Associated Capital Group (NYSE:AC) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Associated Capital Group (NYSE:AC) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Associated Capital Group Stock Performance

Associated Capital Group stock opened at $36.57 on Friday. Associated Capital Group has a fifty-two week low of $28.58 and a fifty-two week high of $43.85. The company has a market capitalization of $776.64 million, a P/E ratio of 13.90 and a beta of 0.87. The stock has a 50-day simple moving average of $35.71 and a 200-day simple moving average of $35.03.

Associated Capital Group (NYSE:AC) last posted its quarterly earnings data on Friday, November 8th. The financial services provider reported $1.09 EPS for the quarter. Associated Capital Group had a return on equity of 6.21% and a net margin of 412.90%. The firm had revenue of $2.42 million during the quarter.

Associated Capital Group Dividend Announcement

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

Hedge Funds Weigh In On Associated Capital Group

A number of large investors have recently modified their holdings of AC. Quent Capital LLC purchased a new position in shares of Associated Capital Group during the 3rd quarter worth approximately $240,000. Geode Capital Management LLC increased its stake 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 in the last quarter. Empowered Funds LLC purchased a new position in Associated Capital Group in the 4th quarter valued at approximately $149,000. Renaissance Technologies LLC increased its stake in Associated Capital Group by 3.3% in the 2nd quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 800 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Associated Capital Group by 11,616.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 697 shares in the last quarter. 8.14% of the stock is owned by hedge funds and other institutional investors.

About Associated Capital Group

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.