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

StockNews.com lowered shares of Associated Capital Group (NYSE:AC) from a buy rating to a hold rating in a report published on Wednesday.

Associated Capital Group Stock Performance

NYSE AC opened at $36.19 on Wednesday. The firm’s fifty day moving average is $36.22 and its two-hundred day moving average is $34.24. Associated Capital Group has a one year low of $28.58 and a one year high of $43.85. The firm has a market cap of $768.68 million, a PE ratio of 13.76 and a beta of 0.86.

Associated Capital Group Announces Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a dividend yield of 0.6%. Associated Capital Group’s dividend payout ratio (DPR) is currently 7.60%.

Institutional Investors Weigh In On Associated Capital Group

Several hedge funds have recently modified their holdings of the stock. OFI Invest Asset Management purchased a new position in Associated Capital Group during the 2nd quarter worth $1,244,000. Renaissance Technologies LLC raised its holdings in Associated Capital Group by 3.3% during 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 in the last quarter. Geode Capital Management LLC lifted 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 valued at $776,000 after purchasing an additional 4,841 shares during the period. Dynamic Advisor Solutions LLC boosted its holdings 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 purchasing an additional 298 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in Associated Capital Group during the 3rd quarter worth approximately $240,000. 8.14% of the stock is owned by institutional investors and hedge funds.

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.