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

StockNews.com downgraded shares of Associated Capital Group (NYSE:AC) from a buy rating to a hold rating in a research report released on Tuesday.

Associated Capital Group Stock Up 0.8 %

Shares of NYSE:AC opened at $36.63 on Tuesday. The company has a market cap of $779.12 million, a PE ratio of 13.93 and a beta of 0.86. Associated Capital Group has a fifty-two week low of $28.58 and a fifty-two week high of $43.85. The firm has a 50-day simple moving average of $35.96 and a 200 day simple moving average of $34.12.

Associated Capital Group Announces Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.10 per share. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, December 5th. Associated Capital Group’s dividend payout ratio (DPR) is 7.60%.

Institutional Trading of Associated Capital Group

Large investors have recently modified their holdings of the company. Quent Capital LLC bought a new stake in shares of Associated Capital Group during the first quarter valued at approximately $222,000. Dynamic Advisor Solutions LLC increased its position in Associated Capital Group by 2.4% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 298 shares during the period. Geode Capital Management LLC raised its stake in Associated Capital Group by 28.4% during the 3rd quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock valued at $776,000 after acquiring an additional 4,841 shares in the last quarter. Renaissance Technologies LLC boosted its position 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 worth $840,000 after acquiring an additional 800 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Associated Capital Group in the second quarter worth $1,244,000. Institutional investors and hedge funds 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.