Punch & Associates Investment Management Inc. Makes New $3.29 Million Investment in Silvercrest Asset Management Group Inc. $SAMG

Punch & Associates Investment Management Inc. bought a new position in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 245,031 shares of the asset manager’s stock, valued at approximately $3,293,000. Punch & Associates Investment Management Inc. owned approximately 2.08% of Silvercrest Asset Management Group at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Russell Investments Group Ltd. raised its position in Silvercrest Asset Management Group by 64.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager’s stock worth $31,000 after purchasing an additional 798 shares during the last quarter. Wells Fargo & Company MN boosted its position in Silvercrest Asset Management Group by 28.2% in the 4th quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager’s stock valued at $117,000 after buying an additional 1,702 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Silvercrest Asset Management Group by 1,200.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 9,373 shares of the asset manager’s stock valued at $149,000 after buying an additional 8,652 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Silvercrest Asset Management Group during the second quarter valued at $167,000. Finally, Cetera Investment Advisers acquired a new position in shares of Silvercrest Asset Management Group during the first quarter valued at $192,000. 47.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SAMG. Zacks Research cut Silvercrest Asset Management Group from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Wall Street Zen cut Silvercrest Asset Management Group from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings lowered shares of Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Silvercrest Asset Management Group Stock Performance

Shares of Silvercrest Asset Management Group stock opened at $9.95 on Friday. The firm has a fifty day moving average of $10.78 and a two-hundred day moving average of $13.08. The stock has a market capitalization of $117.91 million, a price-to-earnings ratio of 33.17 and a beta of 0.66. Silvercrest Asset Management Group Inc. has a 52 week low of $9.57 and a 52 week high of $16.99.

Silvercrest Asset Management Group (NASDAQ:SAMG) last posted its quarterly 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). Silvercrest Asset Management Group had a return on equity of 10.51% and a net margin of 2.12%.The company had revenue of $31.41 million during the quarter, compared to the consensus estimate of $31.85 million. As a group, research analysts forecast that Silvercrest Asset Management Group Inc. will post 0.53 EPS for the current fiscal year.

Silvercrest Asset Management Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 12th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.84 annualized dividend and a yield of 8.4%. Silvercrest Asset Management Group’s dividend payout ratio is presently 280.00%.

About Silvercrest Asset Management Group

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.