Silvercrest Asset Management Group (NASDAQ:SAMG) Share Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Silvercrest’s shares fell below their 200-day moving average, trading as low as $9.88 versus the $12.65 average, and last changing hands at $9.92.
• Analysts have a consensus “Hold” rating after Zacks Research, Weiss Ratings and Wall Street Zen each upgraded the stock from sell-related ratings.
• The company reported quarterly EPS in line with estimates at $0.10 and announced a $0.21 quarterly dividend, equivalent to an annualized yield of approximately 8.5%; however, the payout ratio is unusually high at 763.64%.

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report)'s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.65 and traded as low as $9.88. Silvercrest Asset Management Group shares last traded at $9.92, with a volume of 61,167 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Zacks Research upgraded Silvercrest Asset Management Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Weiss Ratings raised Silvercrest Asset Management Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded Silvercrest Asset Management Group from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

Silvercrest Asset Management Group Stock Down 2.8%

The company's 50 day simple moving average is $10.48 and its 200-day simple moving average is $12.65. The firm has a market cap of $117.55 million, a P/E ratio of 90.19 and a beta of 0.65.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last released its earnings results on Friday, July 31st. The asset manager reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Silvercrest Asset Management Group had a return on equity of 8.71% and a net margin of 0.72%.The business had revenue of $30.78 million during the quarter, compared to the consensus estimate of $30.90 million. Equities research analysts predict that Silvercrest Asset Management Group Inc. will post 0.47 EPS for the current year.

Silvercrest Asset Management Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 11th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.84 annualized dividend and a yield of 8.5%. Silvercrest Asset Management Group's dividend payout ratio is 763.64%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings in shares of Silvercrest Asset Management Group by 64.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager's stock worth $31,000 after buying an additional 798 shares during the period. Wells Fargo & Company MN increased its stake in shares of Silvercrest Asset Management Group by 28.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager's stock valued at $117,000 after buying an additional 1,702 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Silvercrest Asset Management Group by 1,200.0% during the second quarter. BNP Paribas Financial Markets now owns 9,373 shares of the asset manager's stock valued at $149,000 after buying an additional 8,652 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Silvercrest Asset Management Group in the second quarter valued at about $167,000. Finally, Cetera Investment Advisers bought a new stake in shares of Silvercrest Asset Management Group in the first quarter valued at about $192,000. 47.59% of the stock is owned by institutional investors.

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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