Silvercrest Asset Management Group Inc. to Issue Quarterly Dividend of $0.21 (NASDAQ:SAMG)

Key Points

• Silvercrest Asset Management Group declared a quarterly dividend of $0.21 per share, payable September 18 to shareholders of record on September 11. The dividend implies an annualized payout of $0.84 and an approximately 8.5% yield.
• The dividend appears covered by earnings, with a current payout ratio of 58.3%; analysts expect $0.99 in EPS next year, implying a projected payout ratio of 84.8%.
• SAMG shares opened at $9.90, near their 12-month low, while analyst sentiment was negative overall, with ratings consisting of one Hold and one Sell and an average “Reduce” rating.

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Friday, September 11th will be given a dividend of 0.21 per share by the asset manager on Friday, September 18th. This represents a c) annualized dividend and a yield of 8.5%. The ex-dividend date is Friday, September 11th.

Silvercrest Asset Management Group has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. Silvercrest Asset Management Group has a dividend payout ratio of 58.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Silvercrest Asset Management Group to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 84.8%.

Silvercrest Asset Management Group Stock Down 0.8%

NASDAQ SAMG opened at $9.90 on Friday. The company's 50 day moving average is $10.65 and its 200-day moving average is $12.91. The firm has a market cap of $117.31 million, a P/E ratio of 33.00 and a beta of 0.66. Silvercrest Asset Management Group has a 12-month low of $9.57 and a 12-month high of $16.99.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last posted its earnings results on Friday, July 31st. The asset manager reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. Silvercrest Asset Management Group had a return on equity of 10.51% and a net margin of 2.12%.The firm had revenue of $30.78 million for the quarter, compared to the consensus estimate of $30.90 million. Equities analysts expect that Silvercrest Asset Management Group will post 0.53 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on SAMG. Zacks Research upgraded shares of Silvercrest Asset Management Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Wall Street Zen lowered Silvercrest Asset Management Group from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Finally, Weiss Ratings cut shares of Silvercrest Asset Management Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce".

Silvercrest Asset Management Group Company Profile

Silvercrest Asset Management Group Inc, headquartered in New York City, is an independent registered investment adviser that specializes in delivering customized wealth and asset management solutions for high-net-worth individuals, family offices and institutional clients. Founded in 2002 by senior professionals from leading financial institutions, Silvercrest has built its reputation on a disciplined, research-driven investment process and a commitment to personalized client service.

The firm's core offerings include discretionary and non-discretionary portfolio management across equities, fixed income, hedge funds and alternative investments.

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