Associated Capital Group (NYSE:AC) Stock Rating Lowered by 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 Friday.

Associated Capital Group Price Performance

NYSE AC opened at $36.57 on Friday. The company’s 50 day simple moving average is $35.71 and its two-hundred day simple moving average is $34.99. Associated Capital Group has a 1 year low of $28.58 and a 1 year high of $43.85. The stock has a market capitalization of $776.75 million, a PE ratio of 13.90 and a beta of 0.87.

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

Associated Capital Group Dividend Announcement

The business also recently disclosed a Semi-Annual dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a $0.10 dividend. This represents a dividend yield of 0.6%. The ex-dividend date was Thursday, December 5th. Associated Capital Group’s dividend payout ratio (DPR) is 7.60%.

Institutional Investors Weigh In On Associated Capital Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its stake in Associated Capital Group by 3.3% in the 2nd quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock worth $840,000 after buying an additional 800 shares in the last quarter. Geode Capital Management LLC grew its position in 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 acquiring an additional 4,841 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in 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 valued at $449,000 after acquiring an additional 298 shares during the last quarter. Quent Capital LLC bought a new position in Associated Capital Group in the third quarter valued at $240,000. Finally, Empowered Funds LLC purchased a new stake in Associated Capital Group during the fourth quarter valued at about $149,000. 8.14% of the stock is owned by hedge funds and other institutional investors.

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.