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

Associated Capital Group (NYSE:AC) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Associated Capital Group Price Performance

Shares of AC stock traded up $0.19 during trading hours on Tuesday, reaching $35.32. 4,162 shares of the company were exchanged, compared to its average volume of 6,105. Associated Capital Group has a fifty-two week low of $28.58 and a fifty-two week high of $43.85. The stock’s fifty day moving average is $36.59 and its two-hundred day moving average is $35.96. The company has a market cap of $750.09 million, a price-to-earnings ratio of 17.06 and a beta of 0.92.

Associated Capital Group (NYSE:AC) last posted its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $0.20 earnings per share for the quarter. Associated Capital Group had a net margin of 336.45% and a return on equity of 4.88%.

Institutional Investors Weigh In On Associated Capital Group

A number of institutional investors and hedge funds have recently modified their holdings of AC. Geode Capital Management LLC raised 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 buying an additional 4,841 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Associated Capital Group by 11,616.7% during the third quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after buying an additional 697 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Associated Capital Group during the fourth quarter worth approximately $149,000. OFI Invest Asset Management bought a new stake in Associated Capital Group in the fourth quarter valued at approximately $1,092,000. Finally, Northern Trust Corp increased its stake in Associated Capital Group by 17.6% in the fourth quarter. Northern Trust Corp now owns 18,375 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 2,755 shares in the last quarter. 8.14% of the stock is owned by institutional investors.

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.