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 note issued to investors on Friday morning.

Associated Capital Group Price Performance

NYSE AC opened at $36.57 on Friday. The company has a market cap of $776.64 million, a PE ratio of 13.90 and a beta of 0.87. The stock’s 50 day simple moving average is $35.71 and its 200-day simple moving average is $35.03. Associated Capital Group has a 1-year low of $28.58 and a 1-year high of $43.85.

Associated Capital Group (NYSE:AC) last announced 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 for the quarter.

Associated Capital Group Dividend Announcement

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

Hedge Funds Weigh In On Associated Capital Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new stake in Associated Capital Group during the third quarter worth $240,000. Geode Capital Management LLC increased its stake in 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. Empowered Funds LLC acquired a new stake in shares of Associated Capital Group in the fourth quarter valued at $149,000. 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, JPMorgan Chase & Co. grew its stake in shares of Associated Capital Group by 11,616.7% in the third quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock valued at $25,000 after buying an additional 697 shares in the last quarter. Hedge funds and other institutional investors own 8.14% of the company’s stock.

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.