R Squared Ltd Purchases 10,996 Shares of Silvercrest Asset Management Group Inc. $SAMG

R Squared Ltd grew its position in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) by 72.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,107 shares of the asset manager’s stock after purchasing an additional 10,996 shares during the quarter. R Squared Ltd owned about 0.19% of Silvercrest Asset Management Group worth $414,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. raised its holdings in Silvercrest Asset Management Group by 1.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 127,009 shares of the asset manager’s stock worth $2,078,000 after purchasing an additional 1,314 shares during the last quarter. Martingale Asset Management L P grew its position in shares of Silvercrest Asset Management Group by 11.1% during the 1st quarter. Martingale Asset Management L P now owns 27,954 shares of the asset manager’s stock worth $457,000 after buying an additional 2,800 shares during the period. Bank of New York Mellon Corp grew its position in shares of Silvercrest Asset Management Group by 3.2% during the 1st quarter. Bank of New York Mellon Corp now owns 24,716 shares of the asset manager’s stock worth $404,000 after buying an additional 775 shares during the period. Hsbc Holdings PLC grew its position in shares of Silvercrest Asset Management Group by 10.3% during the 1st quarter. Hsbc Holdings PLC now owns 22,351 shares of the asset manager’s stock worth $368,000 after buying an additional 2,092 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Silvercrest Asset Management Group during the 1st quarter worth approximately $331,000. Institutional investors own 47.59% of the company’s stock.

Silvercrest Asset Management Group Stock Up 0.8%

Shares of SAMG stock opened at $14.70 on Friday. The company has a market cap of $184.73 million, a price-to-earnings ratio of 16.70 and a beta of 0.75. Silvercrest Asset Management Group Inc. has a 52 week low of $13.54 and a 52 week high of $19.20. The firm has a 50 day moving average of $15.68 and a 200-day moving average of $15.58.

Silvercrest Asset Management Group (NASDAQ:SAMG) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Silvercrest Asset Management Group had a net margin of 6.63% and a return on equity of 12.03%. The business had revenue of $30.67 million during the quarter, compared to the consensus estimate of $30.77 million.

Silvercrest Asset Management Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 12th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, September 12th. This is an increase from Silvercrest Asset Management Group’s previous quarterly dividend of $0.20. Silvercrest Asset Management Group’s payout ratio is 95.45%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Silvercrest Asset Management Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Silvercrest Asset Management Group 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.