Silvercrest Asset Management Group (NASDAQ:SAMG) Issues Quarterly Earnings Results

Key Points

• Silvercrest met earnings expectations, reporting quarterly EPS of $0.10, while revenue of $30.78 million came slightly below the $30.90 million analyst consensus.
• SAMG shares fell 0.8% to $9.90, near the lower end of their 52-week range. Analysts remain cautious, with the stock carrying an average “Reduce” rating.
• The company paid a quarterly dividend of $0.21 per share, equal to an annualized $0.84 and an 8.5% yield; its dividend payout ratio stands at a high 280%.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) released its quarterly earnings data on Thursday. The asset manager reported $0.10 earnings per share for the quarter, hitting analysts' consensus estimates of $0.10, FiscalAI reports. The company had revenue of $30.78 million for the quarter, compared to analysts' expectations of $30.90 million. Silvercrest Asset Management Group had a net margin of 2.12% and a return on equity of 10.51%.

Silvercrest Asset Management Group Stock Down 0.8%

SAMG traded down $0.08 during trading on Thursday, hitting $9.90. 53,972 shares of the stock were exchanged, compared to its average volume of 51,899. The firm has a market capitalization of $117.31 million, a P/E ratio of 33.00 and a beta of 0.66. Silvercrest Asset Management Group has a 1-year low of $9.57 and a 1-year high of $16.99. The stock has a fifty day moving average price of $10.65 and a two-hundred day moving average price of $12.91.

Silvercrest Asset Management Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 12th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date was Friday, June 12th. Silvercrest Asset Management Group's dividend payout ratio (DPR) is currently 280.00%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Silvercrest Asset Management Group

Several large investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of Silvercrest Asset Management Group in the 1st quarter valued at $242,000. Raymond James Financial Inc. purchased a new stake in Silvercrest Asset Management Group in the 2nd quarter valued at $247,000. Gamco Investors INC. ET AL raised its position in Silvercrest Asset Management Group by 42.0% in the 2nd quarter. Gamco Investors INC. ET AL now owns 28,409 shares of the asset manager's stock valued at $451,000 after purchasing an additional 8,409 shares during the last quarter. Marshall Wace LLP boosted its stake in Silvercrest Asset Management Group by 18.5% during the 4th quarter. Marshall Wace LLP now owns 40,852 shares of the asset manager's stock worth $621,000 after purchasing an additional 6,366 shares during the period. Finally, Boston Partners boosted its stake in Silvercrest Asset Management Group by 9.3% during the 4th quarter. Boston Partners now owns 232,310 shares of the asset manager's stock worth $3,529,000 after purchasing an additional 19,753 shares during the period. 47.59% of the stock is owned by institutional investors and hedge funds.

About Silvercrest Asset Management Group

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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