Associated Capital Group (NYSE:AC) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Associated Capital Group (NYSE:AC) from a hold rating to a buy rating in a research report released on Monday.

Associated Capital Group Trading Up 0.2 %

Shares of AC stock opened at $36.39 on Monday. Associated Capital Group has a 1-year low of $28.58 and a 1-year high of $43.85. The stock has a market cap of $774.02 million, a price-to-earnings ratio of 13.84 and a beta of 0.86. The stock has a 50-day moving average of $35.37 and a 200-day moving average of $33.90.

Associated Capital Group Announces Dividend

The company also recently declared 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. The ex-dividend date is Thursday, December 5th. Associated Capital Group’s dividend payout ratio (DPR) is currently 7.60%.

Institutional Investors Weigh In On Associated Capital Group

Large investors have recently added to or reduced their stakes in the business. Quent Capital LLC acquired a new stake in Associated Capital Group in the first quarter worth $222,000. Dynamic Advisor Solutions LLC increased its position in Associated Capital Group by 2.4% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock valued at $449,000 after buying an additional 298 shares in the last quarter. Renaissance Technologies LLC raised its stake 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 worth $840,000 after buying an additional 800 shares during the period. Finally, OFI Invest Asset Management bought a new position in Associated Capital Group in the second quarter worth approximately $1,244,000. Institutional investors and hedge funds own 8.14% of the company’s stock.

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.