Silvercrest Asset Management Group (NASDAQ:SAMG) Shares Pass Below 200-Day Moving Average - Here's Why

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.20 and traded as low as $14.36. Silvercrest Asset Management Group shares last traded at $14.40, with a volume of 32,635 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Silvercrest Asset Management Group from a "strong-buy" rating to a "buy" rating in a report on Monday, May 12th.

Silvercrest Asset Management Group Stock Performance

The company has a market capitalization of $191.69 million, a P/E ratio of 17.58 and a beta of 0.84. The firm's fifty day moving average is $15.38 and its 200 day moving average is $17.17.

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

Silvercrest Asset Management Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 13th will be paid a $0.20 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 5.69%. Silvercrest Asset Management Group's dividend payout ratio is currently 84.21%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in shares of Silvercrest Asset Management Group by 3.2% in the 1st quarter. Bank of New York Mellon Corp now owns 24,716 shares of the asset manager's stock worth $404,000 after purchasing an additional 775 shares during the period. Gamco Investors INC. ET AL lifted its position in shares of Silvercrest Asset Management Group by 5.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the asset manager's stock worth $368,000 after purchasing an additional 1,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Silvercrest Asset Management Group by 7.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,641 shares of the asset manager's stock worth $289,000 after purchasing an additional 1,211 shares during the period. Wells Fargo & Company MN lifted its position in shares of Silvercrest Asset Management Group by 28.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager's stock worth $103,000 after purchasing an additional 1,236 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of Silvercrest Asset Management Group by 1.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 127,009 shares of the asset manager's stock worth $2,078,000 after purchasing an additional 1,314 shares during the period. 47.59% of the stock is currently owned by 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.