Silvercrest Asset Management Group (SAMG) Announces Earnings Results

Silvercrest Asset Management Group (NASDAQ:SAMG) posted its earnings results on Friday. The asset manager reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.03, Bloomberg Earnings reports. The company had revenue of $24.47 million for the quarter. Silvercrest Asset Management Group had a return on equity of 17.71% and a net margin of 7.61%.

Shares of Silvercrest Asset Management Group (NASDAQ:SAMG) opened at $15.95 on Friday. The company has a market capitalization of $202.63, a price-to-earnings ratio of 19.45 and a beta of 1.10. Silvercrest Asset Management Group has a 12-month low of $11.85 and a 12-month high of $16.80.

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The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 9th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.51%. This is an increase from Silvercrest Asset Management Group’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, March 8th. Silvercrest Asset Management Group’s payout ratio is presently 68.29%.

In other Silvercrest Asset Management Group news, major shareholder Marital Trust Under Article 7T sold 250,000 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $15.00, for a total transaction of $3,750,000.00. Following the sale, the insider now directly owns 648,153 shares in the company, valued at $9,722,295. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.56% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Silvercrest Asset Management Group stock. State Street Corp boosted its position in shares of Silvercrest Asset Management Group Inc (NASDAQ:SAMG) by 13.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 80,820 shares of the asset manager’s stock after purchasing an additional 9,354 shares during the quarter. State Street Corp owned approximately 1.00% of Silvercrest Asset Management Group worth $1,086,000 at the end of the most recent reporting period. 46.48% of the stock is owned by institutional investors.

Separately, Sandler O’Neill set a $17.00 target price on Silvercrest Asset Management Group and gave the stock a “buy” rating in a research report on Saturday, February 17th.

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Silvercrest Asset Management Group Company Profile

Silvercrest Asset Management Group Inc (Silvercrest) is a full-service wealth management firm focused on providing financial advisory and related family office services to ultra-high net worth individuals and institutional investors. The Company offers a suite of family office services for families seeking oversight of financial affairs.

Earnings History for Silvercrest Asset Management Group (NASDAQ:SAMG)

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