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

StockNews.com downgraded shares of Associated Capital Group (NYSE:AC) from a buy rating to a hold rating in a research note published on Friday.

Associated Capital Group Stock Up 1.0 %

Associated Capital Group stock opened at $37.33 on Friday. The firm has a market cap of $792.89 million, a P/E ratio of 14.19 and a beta of 0.87. The business has a fifty day moving average of $36.59 and a two-hundred day moving average of $34.44. Associated Capital Group has a twelve month low of $28.58 and a twelve month high of $43.85.

Associated Capital Group Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.10 per share. This represents a yield of 0.6%. The ex-dividend date of this dividend is Thursday, December 5th. Associated Capital Group’s payout ratio is currently 7.60%.

Institutional Inflows and Outflows

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

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.