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

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

Associated Capital Group Price Performance

Associated Capital Group stock opened at $37.03 on Tuesday. The company has a market capitalization of $787.63 million, a price-to-earnings ratio of 13.89 and a beta of 0.86. Associated Capital Group has a one year low of $28.58 and a one year high of $43.85. The company’s fifty day moving average price is $35.82 and its two-hundred day moving average price is $34.07.

Associated Capital Group Dividend Announcement

The firm 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 dividend of $0.10 per share. This represents a yield of 0.6%. The ex-dividend date of this dividend is Thursday, December 5th. Associated Capital Group’s payout ratio is 7.60%.

Hedge Funds Weigh In On Associated Capital Group

Institutional investors have recently made changes to their positions in the business. Quent Capital LLC bought a new position in shares of Associated Capital Group in the first quarter worth about $222,000. Dynamic Advisor Solutions LLC increased its stake in shares of Associated Capital Group by 2.4% in 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 during the period. Geode Capital Management LLC increased its stake 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 worth $776,000 after purchasing an additional 4,841 shares during the period. Renaissance Technologies LLC increased its stake 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 worth $840,000 after purchasing 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 about $1,244,000. 8.14% of the stock is currently 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.