Novare Capital Management LLC Sells 7,000 Shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG)

Novare Capital Management LLC lessened its holdings in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,400 shares of the asset manager’s stock after selling 7,000 shares during the quarter. Novare Capital Management LLC owned 0.41% of Silvercrest Asset Management Group worth $895,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. First Personal Financial Services bought a new position in Silvercrest Asset Management Group in the first quarter valued at $63,000. BNP Paribas Financial Markets increased its holdings in shares of Silvercrest Asset Management Group by 8.9% in the first quarter. BNP Paribas Financial Markets now owns 8,450 shares of the asset manager’s stock valued at $134,000 after purchasing an additional 692 shares during the last quarter. Heron Bay Capital Management acquired a new position in shares of Silvercrest Asset Management Group in the first quarter valued at approximately $162,000. Virtu Financial LLC acquired a new stake in shares of Silvercrest Asset Management Group during the fourth quarter worth $185,000. Finally, Rhumbline Advisers raised its stake in Silvercrest Asset Management Group by 15.7% in the 2nd quarter. Rhumbline Advisers now owns 15,230 shares of the asset manager’s stock worth $237,000 after purchasing an additional 2,072 shares in the last quarter. Institutional investors own 47.59% of the company’s stock.

Silvercrest Asset Management Group Stock Down 2.4 %

Shares of SAMG traded down $0.39 during mid-day trading on Tuesday, hitting $15.81. 2,349 shares of the company’s stock were exchanged, compared to its average volume of 27,601. The firm has a market cap of $219.92 million, a price-to-earnings ratio of 16.94 and a beta of 0.85. The stock’s 50-day simple moving average is $15.93 and its 200-day simple moving average is $15.58. Silvercrest Asset Management Group Inc. has a 52 week low of $13.93 and a 52 week high of $19.25.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its earnings results on Thursday, August 1st. The asset manager reported $0.30 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.10). Silvercrest Asset Management Group had a net margin of 7.09% and a return on equity of 12.46%. The firm had revenue of $30.99 million during the quarter, compared to the consensus estimate of $30.68 million. During the same period in the prior year, the business earned $0.34 earnings per share. Analysts forecast that Silvercrest Asset Management Group Inc. will post 1.54 earnings per share for the current fiscal year.

Silvercrest Asset Management Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 13th will be given a dividend of $0.20 per share. This is an increase from Silvercrest Asset Management Group’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Friday, September 13th. Silvercrest Asset Management Group’s dividend payout ratio is currently 84.21%.

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.