Silvercrest Asset Management Group (NASDAQ:SAMG) Upgraded to Strong-Buy at StockNews.com

Silvercrest Asset Management Group (NASDAQ:SAMG) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

Silvercrest Asset Management Group Price Performance

SAMG opened at $16.47 on Friday. Silvercrest Asset Management Group has a fifty-two week low of $13.93 and a fifty-two week high of $19.20. The company’s 50 day moving average price is $17.78 and its two-hundred day moving average price is $17.69. The firm has a market capitalization of $224.55 million, a price-to-earnings ratio of 20.59 and a beta of 0.84.

Silvercrest Asset Management Group (NASDAQ:SAMG) last posted its quarterly earnings data on Thursday, March 6th. The asset manager reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.13). Silvercrest Asset Management Group had a return on equity of 11.40% and a net margin of 6.24%. The firm had revenue of $31.96 million for the quarter, compared to analyst estimates of $31.97 million.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Silvercrest Asset Management Group by 4.9% in the third quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager’s stock valued at $3,852,000 after buying an additional 10,477 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Silvercrest Asset Management Group by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 208,760 shares of the asset manager’s stock valued at $3,839,000 after acquiring an additional 2,175 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Silvercrest Asset Management Group by 1.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 125,695 shares of the asset manager’s stock valued at $2,312,000 after purchasing an additional 1,781 shares during the last quarter. Northern Trust Corp increased its holdings in Silvercrest Asset Management Group by 5.1% during the 4th quarter. Northern Trust Corp now owns 77,304 shares of the asset manager’s stock worth $1,422,000 after purchasing an additional 3,751 shares in the last quarter. Finally, Cary Street Partners Financial LLC purchased a new position in Silvercrest Asset Management Group during the 4th quarter worth $1,197,000. Institutional investors and hedge funds own 47.59% of the company’s stock.

Silvercrest Asset Management Group Company Profile

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.