North Star Investment Management Corp. Purchases New Position in Silvercrest Asset Management Group Inc. $SAMG

North Star Investment Management Corp. acquired a new position in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 110,000 shares of the asset manager’s stock, valued at approximately $1,478,000. North Star Investment Management Corp. owned approximately 0.93% of Silvercrest Asset Management Group at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SAMG. Jane Street Group LLC acquired a new position in shares of Silvercrest Asset Management Group in the 1st quarter valued at $242,000. Arrowstreet Capital Limited Partnership acquired a new position in Silvercrest Asset Management Group during the second quarter worth approximately $316,000. Marshall Wace LLP acquired a new position in Silvercrest Asset Management Group during the second quarter worth approximately $1,014,000. Gamco Investors INC. ET AL boosted its holdings in shares of Silvercrest Asset Management Group by 42.0% in the second quarter. Gamco Investors INC. ET AL now owns 28,409 shares of the asset manager’s stock valued at $451,000 after acquiring an additional 8,409 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Silvercrest Asset Management Group in the 2nd quarter valued at $247,000. Hedge funds and other institutional investors own 47.59% of the company’s stock.

Silvercrest Asset Management Group Stock Down 11.3%

NASDAQ SAMG opened at $10.30 on Tuesday. The stock has a market capitalization of $122.06 million, a P/E ratio of 34.33 and a beta of 0.64. Silvercrest Asset Management Group Inc. has a 52-week low of $10.13 and a 52-week high of $16.99. The firm has a 50-day moving average price of $11.88 and a 200 day moving average price of $13.72.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its earnings results on Monday, May 11th. The asset manager reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.09). The business had revenue of $31.41 million for the quarter, compared to analyst estimates of $31.85 million. Silvercrest Asset Management Group had a return on equity of 10.51% and a net margin of 2.12%. On average, equities research analysts expect that Silvercrest Asset Management Group Inc. will post 0.53 earnings per share for the current fiscal year.

Silvercrest Asset Management Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 12th were given a $0.21 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.84 annualized dividend and a yield of 8.2%. Silvercrest Asset Management Group’s dividend payout ratio is presently 280.00%.

Analyst Ratings Changes

Several analysts have commented on the company. Weiss Ratings downgraded Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 27th. Wall Street Zen lowered Silvercrest Asset Management Group from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Zacks Research cut Silvercrest Asset Management Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Silvercrest Asset Management Group 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.