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 report issued on Friday.

Associated Capital Group Stock Performance

NYSE AC opened at $37.33 on Friday. The business’s 50 day moving average price is $36.59 and its 200-day moving average price is $34.44. Associated Capital Group has a fifty-two week low of $28.58 and a fifty-two week high of $43.85. The company has a market cap of $792.89 million, a P/E ratio of 14.19 and a beta of 0.87.

Associated Capital Group Dividend Announcement

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

Hedge Funds Weigh In On Associated Capital Group

Several hedge funds have recently bought and sold shares of AC. Geode Capital Management LLC grew its stake in Associated Capital Group by 28.4% in the 3rd 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 holdings in 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 period. Quent Capital LLC purchased a new position in Associated Capital Group during the 3rd quarter worth $240,000. Renaissance Technologies LLC raised 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 valued at $840,000 after purchasing an additional 800 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Associated Capital Group in the 2nd quarter worth $1,244,000. 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.