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

Shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) 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.

Analysts Set New Price Targets

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

Silvercrest Asset Management Group Stock Performance

The stock has a market capitalization of $247.49 million, a P/E ratio of 22.31 and a beta of 0.82. The business has a 50-day moving average price of $18.19 and a 200 day moving average price of $17.03.

Silvercrest Asset Management Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, December 13th. This represents a $0.80 annualized dividend and a dividend yield of 4.48%. Silvercrest Asset Management Group’s payout ratio is presently 100.00%.

Institutional Trading of Silvercrest Asset Management Group

Institutional investors have recently bought and sold shares of the company. Long Path Partners LP lifted its stake in shares of Silvercrest Asset Management Group by 23.8% in the second quarter. Long Path Partners LP now owns 940,798 shares of the asset manager’s stock worth $14,667,000 after buying an additional 180,627 shares in the last quarter. Royce & Associates LP increased its holdings in Silvercrest Asset Management Group by 6.6% in the 3rd quarter. Royce & Associates LP now owns 586,300 shares of the asset manager’s stock worth $10,108,000 after buying an additional 36,063 shares in the last quarter. Geode Capital Management LLC lifted its stake in Silvercrest Asset Management Group by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager’s stock valued at $3,852,000 after acquiring an additional 10,477 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Silvercrest Asset Management Group by 11.5% during the 2nd quarter. Renaissance Technologies LLC now owns 173,037 shares of the asset manager’s stock valued at $2,698,000 after buying an additional 17,800 shares during the period. Finally, Bank of New York Mellon Corp increased its stake 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 purchasing an additional 6,910 shares in the last quarter. 47.59% of the stock is owned by hedge funds and other institutional investors.

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.