ATLANTA, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) is pleased to announce that Chip Kelleher has joined the firm as a Managing Director. Kelleher will spearhead the further expansion of Silvercrest's presence in the southern market by opening a new Atlanta, Georgia, office. Kelleher brings with him a distinguished career in asset management and a robust network of relationships in the financial industry. He has a proven track record of delivering strategic inve ...

Group 1 - Silvercrest Asset Management Group Inc. (SAMG) has approved a share repurchase program allowing for the repurchase of up to $12 million of its Class A common stock over the next 12 months [1] - Previously, SAMG's board approved a $15 million share repurchase program, under which it purchased 808,455 shares for $15.06 million as of June 30, 2024 [2] - SAMG has a history of paying regular quarterly dividends, enhancing shareholder value through capital distributions [2] Group 2 - On July 30, 2024, SAMG's board approved a 5.3% dividend increase from 19 cents to 20 cents per share, with the dividend to be paid on September 20, 2024 [3] - Over the last five years, SAMG has increased its dividend five times, maintaining a payout ratio of 72% of earnings [3] - The company has a five-year annualized dividend growth rate of 5.27%, and with a closing price of $15.55 per share, its forward annualized dividend yield is 5.1% [4] Group 3 - In the past six months, SAMG shares have decreased by 5.2%, contrasting with the industry's growth of 7.4% [4] - Currently, Silvercrest holds a Zacks Rank 3 (Hold) [5]

Group 1 - Silvercrest Asset Management Group Inc. announced a common stock repurchase program, authorizing the purchase of up to $12.0 million of its Class A common stock over the next 12 months, depending on market conditions [1] - The repurchase may occur in the open market at prices deemed appropriate by the Company, subject to market conditions and applicable laws [1] - The program does not obligate the Company to repurchase any specific dollar amount or number of shares and may be suspended or discontinued at any time [1] Group 2 - Silvercrest was founded in April 2002 as an independent, employee-owned registered investment adviser, providing traditional and alternative investment advisory services [3] - As of June 30, 2024, Silvercrest reported assets under management totaling $33.4 billion [3]

Financial Data and Key Metrics Changes - Discretionary AUM decreased by $1.1 billion during the quarter to $21.6 billion, primarily due to the loss of institutional mandates [4][9] - Total AUM at the end of Q2 2024 was $33.4 billion, a year-over-year increase of 4.7% from Q2 2023 [4][9] - Quarterly revenue increased by $1.3 million or 4.2% year-over-year, totaling $31 million [9][11] - Reported net income for the quarter was approximately $4.4 million, or $0.28 per Class A share [10][11] - Adjusted EBITDA was approximately $7.2 million, representing 23.3% of revenue for the quarter [11] Business Line Data and Key Metrics Changes - The pipeline of new institutional business opportunities decreased to $1 billion during the second quarter, although it remains higher than the fourth quarter of the previous year [7] - OCIO assets are currently about $1.5 billion, with a pipeline of nearly $600 million [19] Market Data and Key Metrics Changes - Large-cap growth primarily drove higher markets, while large-cap value and small-cap segments declined during the second quarter [3][4] - The market has recently broadened, which is expected to improve future assets under management [4] Company Strategy and Development Direction - The company is focused on investing in future growth, including hiring a global equity investment team to enhance international strategies [5][6] - The firm aims to increase visibility globally with institutions and ultra-high net worth families [5][7] - The company plans to adjust variable compensation levels to align with investments in the business [6][20] Management's Comments on Operating Environment and Future Outlook - Management noted that while relative performance has been strong, there have been minor outflows due to shifts in institutional allocations [14][15] - The company sees substantial new opportunities globally despite international tensions, particularly in small-cap and growth strategies [7][16] - Management expressed optimism about the potential for significant inflows from the new global equity team [17][18] Other Important Information - The Board of Directors approved a 5% increase in the quarterly dividend, raising it from $0.19 to $0.20 per share [7] - Total assets as of June 30, 2024, were approximately $177.6 million, down from $199.6 million at the end of the previous year [13] Q&A Session Summary Question: What are you hearing from consultants and institutional clients regarding performance and outflows? - Management indicated that outflows were primarily due to a large institution consolidating their managers, not due to performance issues [14][15] Question: Can you quantify the new global strategy opportunity? - Management stated it is a multibillion-dollar opportunity in the next few years, with strong demand for the new global equity capabilities [17] Question: Where are you in terms of OCIO assets now? - OCIO assets are about $1.5 billion, with a diversified pipeline of nearly $600 million [19] Question: Are higher compensation expenses expected for modeling purposes? - Management confirmed that higher compensation expenses are expected this year due to ongoing investments in talent and technology [20] Question: How has the recent equity market change resonated with the company? - Management noted that the recent broadening of the market is welcome and beneficial for the firm's small-cap capabilities and overall business [29][30]

Company Performance - Silvercrest reported quarterly earnings of $0.30 per share, missing the Zacks Consensus Estimate of $0.40 per share, representing an earnings surprise of -25% [1] - The company posted revenues of $30.99 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.04%, compared to year-ago revenues of $29.73 million [2] - Over the last four quarters, Silvercrest has not surpassed consensus EPS estimates [2] Stock Movement and Outlook - Silvercrest shares have increased by approximately 4.3% since the beginning of the year, while the S&P 500 has gained 15.8% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters [4] - The current consensus EPS estimate for the coming quarter is $0.41 on revenues of $31.63 million, and $1.54 on revenues of $124.51 million for the current fiscal year [7] Industry Context - The Financial - Investment Management industry, to which Silvercrest belongs, is currently in the bottom 34% of over 250 Zacks industries, indicating potential challenges [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Silvercrest's stock performance [5][6]

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Q1 2024 Earnings Conference Call May 3, 2024 8:30 AM ET Company Participants Richard Hough - Chief Executive Officer, President & Chairman Scott Gerard - Chief Financial Officer Conference Call Participants Sandy Mehta - Evaluate Research Christopher Marinac - Janney Montgomery Scott Chris Sakai - Singular Research Operator Good morning, and welcome to the Silvercrest Asset Management Group Incorporated First Quarter 2024 Earnings Conference Call. All pa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number: 001-35733 Silvercrest Asset Management Group Inc. (Exact name of registrant as specified in its charter) (State or Other Jurisdicti ...

Exhibit 99.1 Silvercrest Asset Management Group Inc. Reports Q1 2024 Results New York, NY – May 2, 2024 - Silvercrest Asset Management Group Inc. (NASDAQ: SAMG) (the "Company" or "Silvercrest") today reported the results of its operations for the quarter ended March 31, 2024. Business Update Supportive equity markets in the first quarter of 2024 set the stage for a better environment for our business, continuing progress that began in the fourth quarter of 2023 as the market broadened. While we continue to ...

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Q4 2023 Results Conference Call March 8, 2024 8:30 AM ET Company Participants Richard Hough - Chief Executive Officer, President & Chairman Scott Gerard - Chief Financial Officer Conference Call Participants Freddie Strickland - Janney Montgomery Scott Chris Sakai - Singular Research Sandy Mehta - Evaluate Research Operator Good morning, and welcome to the Silvercrest Asset Management Group Incorporated Fourth Quarter and Full-Year 2023 Earnings Conferen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED December 31, 2023 OR Identification No.) 1330 Avenue of the Americas, 38th Floor New York, New York 10019 (Address of principal executive offices and zip code) (212) 649-0600 (Registrant's telephone number, including area code) Not Applicable ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECU ...