Associated Capital Group (NYSE:AC) Downgraded by StockNews.com 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 Friday.

Associated Capital Group Stock Performance

AC stock opened at $37.33 on Friday. Associated Capital Group has a 1 year low of $28.58 and a 1 year high of $43.85. The stock has a market capitalization of $792.89 million, a price-to-earnings ratio of 14.19 and a beta of 0.87. The stock’s fifty day moving average is $36.59 and its two-hundred day moving average is $34.43.

Associated Capital Group Dividend Announcement

The company also recently announced a Semi-Annual dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.10 dividend. This represents a yield of 0.6%. The ex-dividend date is 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 institutional investors and hedge funds have recently added to or reduced their stakes in AC. OFI Invest Asset Management bought a new position in Associated Capital Group in the 2nd quarter valued at about $1,244,000. Renaissance Technologies LLC boosted its holdings 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 acquiring an additional 800 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Associated Capital Group during the third quarter valued at approximately $240,000. Dynamic Advisor Solutions LLC raised its holdings 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 purchasing an additional 298 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in 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 worth $776,000 after purchasing an additional 4,841 shares during the period. 8.14% of the stock is owned by 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.