Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.03 and traded as high as $18.45. Silvercrest Asset Management Group shares last traded at $17.85, with a volume of 35,040 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Silvercrest Asset Management Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 20th.

Silvercrest Asset Management Group Stock Up 0.8 %

The stock has a fifty day moving average price of $18.19 and a 200-day moving average price of $17.07. The firm has a market cap of $249.34 million, a price-to-earnings ratio of 22.49 and a beta of 0.82.

Silvercrest Asset Management Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend was Friday, December 13th. Silvercrest Asset Management Group’s payout ratio is 100.00%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

A number of institutional investors and hedge funds have recently made changes to their positions in SAMG. Rhumbline Advisers boosted its holdings in Silvercrest Asset Management Group by 15.7% during the second quarter. Rhumbline Advisers now owns 15,230 shares of the asset manager’s stock worth $237,000 after buying an additional 2,072 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Silvercrest Asset Management Group by 30.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock worth $253,000 after acquiring an additional 3,446 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Silvercrest Asset Management Group by 17.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 47,454 shares of the asset manager’s stock worth $740,000 after acquiring an additional 6,910 shares during the period. Jane Street Group LLC increased its stake in Silvercrest Asset Management Group by 55.6% in the 3rd quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager’s stock valued at $345,000 after purchasing an additional 7,155 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Silvercrest Asset Management Group by 80.8% during the third quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock worth $355,000 after purchasing an additional 9,209 shares during the last quarter. 47.59% of the stock is owned by institutional investors and hedge funds.

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.