Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Silvercrest Asset Management Group's stock has recently dipped below its 200-day moving average of $15.73, trading as low as $15.25.
• The company increased its quarterly dividend to $0.21 from the previous $0.20, yielding an annualized dividend of 5.5%.
• Weiss Ratings has issued a "hold" rating for the stock, with the current consensus rating among analysts being "Hold."

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report)'s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $15.73 and traded as low as $15.25. Silvercrest Asset Management Group shares last traded at $15.34, with a volume of 15,026 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Silvercrest Asset Management Group in a report on Saturday, September 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Silvercrest Asset Management Group currently has a consensus rating of "Hold".

Silvercrest Asset Management Group Price Performance

The company has a 50-day moving average price of $16.18 and a 200-day moving average price of $15.73. The firm has a market capitalization of $192.78 million, a PE ratio of 17.43 and a beta of 0.75.

Silvercrest Asset Management Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 12th were given a $0.21 dividend. This is an increase from Silvercrest Asset Management Group's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Friday, September 12th. Silvercrest Asset Management Group's dividend payout ratio (DPR) is currently 95.45%.

Institutional Trading of Silvercrest Asset Management Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new stake in shares of Silvercrest Asset Management Group in the second quarter valued at $167,000. BNP Paribas Financial Markets lifted its position in 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 worth $149,000 after buying an additional 8,652 shares during the period. Bank of America Corp DE boosted its stake in Silvercrest Asset Management Group by 22.4% in the 2nd quarter. Bank of America Corp DE now owns 31,539 shares of the asset manager's stock worth $500,000 after buying an additional 5,769 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Silvercrest Asset Management Group in the 2nd quarter valued at about $247,000. Finally, Gabelli Funds LLC increased its stake in shares of Silvercrest Asset Management Group by 629.9% during the 2nd quarter. Gabelli Funds LLC now owns 184,887 shares of the asset manager's stock valued at $2,932,000 after acquiring an additional 159,555 shares during the last quarter. 47.59% of the stock is currently owned by hedge funds and other institutional investors.

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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