StockNews.com Initiates Coverage on Associated Capital Group (NYSE:AC)

Research analysts at StockNews.com began coverage on shares of Associated Capital Group (NYSE:AC) in a report released on Sunday. The brokerage set a “hold” rating on the financial services provider’s stock.

Associated Capital Group Stock Down 1.8 %

Shares of Associated Capital Group stock opened at $39.22 on Friday. The stock’s 50-day simple moving average is $36.06 and its 200-day simple moving average is $35.36. Associated Capital Group has a 52 week low of $28.58 and a 52 week high of $43.85. The company has a market capitalization of $833.03 million, a price-to-earnings ratio of 18.95 and a beta of 0.88.

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

Institutional Trading of Associated Capital Group

A number of hedge funds have recently bought and sold shares of the stock. Northern Trust Corp lifted its holdings in shares of Associated Capital Group by 17.6% during the 4th 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 during the last quarter. Geode Capital Management LLC raised its stake in shares of Associated Capital Group by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 23,049 shares of the financial services provider’s stock valued at $790,000 after buying an additional 1,135 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Associated Capital Group during the 4th quarter valued at about $1,092,000. Empowered Funds LLC purchased a new position in shares of Associated Capital Group in the 4th quarter valued at about $149,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Associated Capital Group by 11,616.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 697 shares in the last quarter. Hedge funds and other 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.