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 report issued on Wednesday morning.

Associated Capital Group Trading Down 3.5 %

Shares of AC opened at $36.19 on Wednesday. Associated Capital Group has a twelve month low of $28.58 and a twelve month high of $43.85. The firm has a market capitalization of $768.68 million, a P/E ratio of 13.76 and a beta of 0.86. The firm’s 50-day moving average is $36.22 and its two-hundred day moving average is $34.24.

Associated Capital Group Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.10 dividend. 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 Trading of Associated Capital Group

A number of institutional investors have recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Associated Capital Group during the 2nd quarter worth $1,244,000. Quent Capital LLC acquired a new stake in Associated Capital Group in the 1st quarter valued at about $222,000. Renaissance Technologies LLC increased its holdings in Associated Capital Group by 3.3% during the 2nd 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. Dynamic Advisor Solutions LLC raised its position in 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 acquiring an additional 298 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Associated Capital Group by 28.4% in the third 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. 8.14% of the stock is currently 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.