StockNews.com Initiates Coverage on Silvercrest Asset Management Group (NASDAQ:SAMG)

StockNews.com began coverage on shares of Silvercrest Asset Management Group (NASDAQ:SAMG – Get Rating) in a report released on Thursday. The brokerage issued a buy rating on the asset manager’s stock.

Separately, Piper Sandler upped their target price on Silvercrest Asset Management Group from $21.00 to $23.00 and gave the company an overweight rating in a report on Monday, March 6th.

Silvercrest Asset Management Group Stock Up 1.2 %

Shares of Silvercrest Asset Management Group stock opened at $16.30 on Thursday. The firm has a market cap of $229.83 million, a P/E ratio of 8.49 and a beta of 0.83. The business has a 50-day moving average price of $18.25 and a 200 day moving average price of $18.05. Silvercrest Asset Management Group has a fifty-two week low of $14.94 and a fifty-two week high of $22.68.

Silvercrest Asset Management Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Stockholders of record on Friday, March 10th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, March 9th. This represents a $0.72 annualized dividend and a dividend yield of 4.42%. Silvercrest Asset Management Group’s dividend payout ratio is presently 37.50%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG boosted its position in shares of Silvercrest Asset Management Group by 10.2% during the third quarter. UBS Group AG now owns 7,559 shares of the asset manager’s stock worth $124,000 after buying an additional 697 shares during the period. Denali Advisors LLC boosted its position in shares of Silvercrest Asset Management Group by 36.8% during the fourth quarter. Denali Advisors LLC now owns 2,600 shares of the asset manager’s stock worth $49,000 after buying an additional 700 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Silvercrest Asset Management Group by 140.6% during the first quarter. JPMorgan Chase & Co. now owns 1,376 shares of the asset manager’s stock worth $28,000 after buying an additional 804 shares during the period. Morgan Stanley boosted its position in shares of Silvercrest Asset Management Group by 2.9% during the fourth quarter. Morgan Stanley now owns 33,281 shares of the asset manager’s stock worth $625,000 after buying an additional 930 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Silvercrest Asset Management Group by 6.6% during the fourth quarter. Bank of America Corp DE now owns 19,587 shares of the asset manager’s stock worth $368,000 after buying an additional 1,220 shares during the period. 49.18% of the stock is currently owned by institutional investors and hedge funds.

About Silvercrest Asset Management Group

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Silvercrest Asset Management Group, Inc operates as a wealth management firm. The firm provides traditional and alternative investment advisory and family office services to wealthy families and select institutional investors. It also offers portfolio, equity, and fixed income management and outsourced investment services.