Silvercrest Asset Management Group (NASDAQ:SAMG) Cut to "Buy" at StockNews.com

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued on Monday.

Silvercrest Asset Management Group Price Performance

Shares of SAMG stock traded down $0.06 during mid-day trading on Monday, hitting $14.44. The stock had a trading volume of 137,009 shares, compared to its average volume of 33,173. Silvercrest Asset Management Group has a 12-month low of $13.54 and a 12-month high of $19.20. The firm has a market capitalization of $196.87 million, a P/E ratio of 18.05 and a beta of 0.84. The firm's 50-day moving average is $15.84 and its two-hundred day moving average is $17.33.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last announced its earnings results on Thursday, May 8th. The asset manager reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.09). The business had revenue of $31.39 million for the quarter, compared to analyst estimates of $33.21 million. Silvercrest Asset Management Group had a net margin of 6.24% and a return on equity of 11.40%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAMG. Wells Fargo & Company MN increased its stake in Silvercrest Asset Management Group by 28.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager's stock worth $103,000 after acquiring an additional 1,236 shares during the last quarter. R Squared Ltd acquired a new stake in Silvercrest Asset Management Group during the fourth quarter worth $122,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Silvercrest Asset Management Group by 7.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,641 shares of the asset manager's stock worth $289,000 after acquiring an additional 1,211 shares during the last quarter. Nuveen LLC acquired a new stake in Silvercrest Asset Management Group during the first quarter worth $331,000. Finally, JPMorgan Chase & Co. increased its stake in Silvercrest Asset Management Group by 80.8% during the third quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager's stock worth $355,000 after acquiring an additional 9,209 shares during the last quarter. Institutional investors and hedge funds own 47.59% of the company's stock.

About Silvercrest Asset Management Group

Silvercrest Asset Management Group Inc, a wealth management firm, provides financial advisory and related family office services in the United States. The company serves ultra-high net worth individuals and families, as well as their trusts; endowments; foundations; and other institutional investors.

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