StockNews.com Downgrades Associated Capital Group (NYSE:AC) to Hold

StockNews.com downgraded shares of Associated Capital Group (NYSE:AC) from a buy rating to a hold rating in a research report released on Wednesday.

Associated Capital Group Price Performance

Associated Capital Group stock opened at $36.29 on Wednesday. The firm has a 50 day simple moving average of $36.37 and a 200-day simple moving average of $34.28. The stock has a market cap of $770.80 million, a price-to-earnings ratio of 13.80 and a beta of 0.86. Associated Capital Group has a 1-year low of $28.58 and a 1-year high of $43.85.

Associated Capital Group Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a yield of 0.6%. Associated Capital Group’s dividend payout ratio (DPR) is 7.60%.

Institutional Trading of Associated Capital Group

Several institutional investors and hedge funds have recently bought and sold shares of AC. Geode Capital Management LLC increased its holdings in Associated Capital Group by 28.4% in the 3rd quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock valued at $776,000 after purchasing an additional 4,841 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in shares of Associated Capital Group by 2.4% during the third quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock worth $449,000 after buying an additional 298 shares during the period. Quent Capital LLC purchased a new position in shares of Associated Capital Group during the third quarter worth $240,000. Renaissance Technologies LLC grew its stake in shares of Associated Capital Group by 3.3% in the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock valued at $840,000 after buying an additional 800 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Associated Capital Group in the 2nd quarter valued at $1,244,000. 8.14% of the stock is currently owned by hedge funds and other institutional investors.

Associated Capital Group Company Profile

Associated Capital Group, Inc, together with its subsidiaries, provides investment advisory services in the United States. The company offers alternative investment management services; and operates a direct investment business. It also invests in new and existing businesses. The company was founded in 1976 and is headquartered in Greenwich, Connecticut.