Associated Capital Group (NYSE:AC) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Associated Capital Group (NYSE:AC) from a buy rating to a hold rating in a report released on Friday morning.

Associated Capital Group Stock Up 0.9 %

AC stock opened at $36.57 on Friday. The business has a 50 day moving average of $35.71 and a 200-day moving average of $34.99. Associated Capital Group has a 12-month low of $28.58 and a 12-month high of $43.85. The firm has a market cap of $776.75 million, a PE ratio of 13.90 and a beta of 0.87.

Associated Capital Group (NYSE:AC) last released its earnings results on Friday, November 8th. The financial services provider reported $1.09 EPS for the quarter. The company had revenue of $2.42 million for the quarter. Associated Capital Group had a return on equity of 6.21% and a net margin of 412.90%.

Associated Capital Group Dividend Announcement

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

Institutional Investors Weigh In On Associated Capital Group

A number of hedge funds have recently modified their holdings of AC. Renaissance Technologies LLC lifted its holdings in 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 purchasing an additional 800 shares during the last quarter. Geode Capital Management LLC raised its position 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 during the period. Dynamic Advisor Solutions LLC lifted its stake in shares of Associated Capital Group by 2.4% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock valued at $449,000 after buying an additional 298 shares in the last quarter. Quent Capital LLC bought a new position in Associated Capital Group in the 3rd quarter worth approximately $240,000. Finally, Empowered Funds LLC purchased a new position in Associated Capital Group in the 4th quarter valued at approximately $149,000. 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.