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

Silvercrest Asset Management Group (NASDAQ:SAMG) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Sunday.

Silvercrest Asset Management Group Trading Up 2.7 %

Shares of NASDAQ:SAMG opened at $15.41 on Friday. The company has a 50 day moving average of $17.07 and a 200 day moving average of $17.59. The stock has a market cap of $210.10 million, a P/E ratio of 19.26 and a beta of 0.80. Silvercrest Asset Management Group has a 12 month low of $13.93 and a 12 month high of $19.20.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SAMG. Geode Capital Management LLC grew its stake in Silvercrest Asset Management Group by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager’s stock worth $3,852,000 after buying an additional 10,477 shares in the last quarter. Barclays PLC lifted its holdings in shares of Silvercrest Asset Management Group by 48.8% during the 3rd quarter. Barclays PLC now owns 30,814 shares of the asset manager’s stock worth $531,000 after acquiring an additional 10,110 shares during the last quarter. Jane Street Group LLC grew its position in Silvercrest Asset Management Group by 55.6% in the third quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager’s stock worth $345,000 after acquiring an additional 7,155 shares in the last quarter. JPMorgan Chase & Co. grew its position in Silvercrest Asset Management Group by 80.8% in the third quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock worth $355,000 after acquiring an additional 9,209 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Silvercrest Asset Management Group by 12.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,430 shares of the asset manager’s stock valued at $302,000 after acquiring an additional 1,781 shares during the last quarter. 47.59% of the stock is currently owned by institutional investors.

About Silvercrest Asset Management Group

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.