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

StockNews.com cut shares of Associated Capital Group (NYSE:AC) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Associated Capital Group Trading Up 0.3 %

AC stock opened at $36.29 on Wednesday. The business’s 50-day moving average is $36.37 and its 200 day moving average is $34.28. Associated Capital Group has a 12-month low of $28.58 and a 12-month high of $43.85. The stock has a market cap of $770.80 million, a price-to-earnings ratio of 13.80 and a beta of 0.86.

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 dividend payout ratio is currently 7.60%.

Institutional Investors Weigh In On Associated Capital Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in AC. Quent Capital LLC purchased a new position in shares of Associated Capital Group in the first quarter worth about $222,000. Dynamic Advisor Solutions LLC boosted its holdings 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 worth $449,000 after purchasing an additional 298 shares during the last quarter. Geode Capital Management LLC grew 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 in the last quarter. Renaissance Technologies LLC increased 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 purchasing an additional 800 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in Associated Capital Group during the second quarter worth approximately $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.