Silvercrest Asset Management Group Inc. to Issue Quarterly Dividend of $0.21 (NASDAQ:SAMG)

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) declared a quarterly dividend on Wednesday, May 6th. Shareholders of record on Friday, June 12th will be given a dividend of 0.21 per share by the asset manager on Friday, June 19th. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Friday, June 12th.

Silvercrest Asset Management Group has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Silvercrest Asset Management Group has a payout ratio of 58.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Silvercrest Asset Management Group to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 84.8%.

Silvercrest Asset Management Group Trading Down 0.3%

Silvercrest Asset Management Group stock opened at $10.90 on Wednesday. Silvercrest Asset Management Group has a 1-year low of $10.68 and a 1-year high of $16.99. The firm has a market capitalization of $129.17 million, a price-to-earnings ratio of 36.33 and a beta of 0.64. The firm’s fifty day moving average price is $12.64 and its two-hundred day moving average price is $14.05.

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

Institutional Trading of Silvercrest Asset Management Group

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in Silvercrest Asset Management Group by 64.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager’s stock worth $31,000 after acquiring an additional 798 shares during the period. Wells Fargo & Company MN raised its position in Silvercrest Asset Management Group by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager’s stock worth $117,000 after acquiring an additional 1,702 shares during the period. BNP Paribas Financial Markets raised its position in Silvercrest Asset Management Group by 1,200.0% in the second quarter. BNP Paribas Financial Markets now owns 9,373 shares of the asset manager’s stock worth $149,000 after acquiring an additional 8,652 shares during the period. Engineers Gate Manager LP bought a new stake in Silvercrest Asset Management Group in the second quarter worth about $167,000. Finally, Cetera Investment Advisers bought a new stake in Silvercrest Asset Management Group in the first quarter worth about $192,000. Institutional investors own 47.59% of the company’s stock.

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.