Silvercrest Asset Management Group (NASDAQ:SAMG) Major Shareholder Acquires 3,322 Shares of Stock

by · The Cerbat Gem

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG – Get Free Report) major shareholder Equinox Partners Investment Ma purchased 3,322 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The stock was bought at an average price of $10.42 per share, for a total transaction of $34,615.24. Following the transaction, the insider directly owned 833,799 shares of the company’s stock, valued at $8,688,185.58. This trade represents a 0.40% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

  • On Wednesday, October 21st, Equinox Partners Investment Ma purchased 14,744 shares of Silvercrest Asset Management Group stock. The stock was bought at an average cost of $10.33 per share, with a total value of $152,305.52.
  • On Tuesday, October 20th, Equinox Partners Investment Ma purchased 10,368 shares of Silvercrest Asset Management Group stock. The stock was bought at an average cost of $10.24 per share, with a total value of $106,168.32.
  • On Thursday, October 15th, Equinox Partners Investment Ma bought 5,692 shares of Silvercrest Asset Management Group stock. The stock was purchased at an average cost of $10.47 per share, for a total transaction of $59,595.24.

Silvercrest Asset Management Group Trading Down 4.8%

SAMG stock traded down $0.51 during mid-day trading on Friday, hitting $10.12. The stock had a trading volume of 75,926 shares, compared to its average volume of 54,403. The firm has a fifty day simple moving average of $10.13 and a 200 day simple moving average of $10.97. The firm has a market capitalization of $119.92 million, a P/E ratio of 92.01 and a beta of 0.64. Silvercrest Asset Management Group Inc. has a 52 week low of $9.09 and a 52 week high of $16.16.

Silvercrest Asset Management Group (NASDAQ:SAMG – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The asset manager reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $30.78 million during the quarter, compared to the consensus estimate of $30.90 million. Silvercrest Asset Management Group had a net margin of 0.72% and a return on equity of 8.71%. As a group, equities analysts expect that Silvercrest Asset Management Group Inc. will post 0.47 earnings per share for the current fiscal year.

Silvercrest Asset Management Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 11th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 8.3%. The ex-dividend date was Friday, September 11th. Silvercrest Asset Management Group’s payout ratio is currently 763.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Zacks Research upgraded Silvercrest Asset Management Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings lowered Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, August 20th. Finally, Wall Street Zen raised Silvercrest Asset Management Group from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Silvercrest Asset Management Group presently has a consensus rating of “Reduce”.

Get Our Latest Report on SAMG

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ancora Advisors LLC acquired a new stake in shares of Silvercrest Asset Management Group in the 2nd quarter valued at approximately $28,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Silvercrest Asset Management Group during the 2nd quarter valued at approximately $3,655,000. Punch & Associates Investment Management Inc. acquired a new position in Silvercrest Asset Management Group during the 1st quarter worth approximately $3,293,000. Renaissance Technologies LLC increased its position in Silvercrest Asset Management Group by 3.0% during the 1st quarter. Renaissance Technologies LLC now owns 161,737 shares of the asset manager’s stock worth $2,174,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Silvercrest Asset Management Group by 12.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 29,572 shares of the asset manager’s stock worth $397,000 after purchasing an additional 3,191 shares in the last quarter. Institutional investors own 47.59% of the company’s stock.

Silvercrest Asset Management Group Company Profile

(Get Free Report)

Silvercrest Asset Management Group, Inc is a wealth management and investment advisory firm serving high-net-worth individuals, families, family offices, foundations, endowments and other institutional clients. The company provides customized portfolio management and broader wealth planning services designed to address clients’ investment, tax, estate and philanthropic objectives.

Silvercrest offers investment strategies across publicly traded equities, fixed income and alternative investments.

Read More