Associated Capital Group (NYSE:AC) Rating Increased 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 report released on Thursday.

Associated Capital Group Stock Performance

NYSE AC opened at $36.49 on Thursday. Associated Capital Group has a one year low of $28.58 and a one year high of $43.85. The company has a market capitalization of $775.05 million, a price-to-earnings ratio of 13.87 and a beta of 0.87. The company’s 50-day simple moving average is $36.49 and its two-hundred day simple moving average is $34.35.

Associated Capital Group Dividend Announcement

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 issued a dividend of $0.10 per share. The ex-dividend date is Thursday, December 5th. This represents a yield of 0.6%. Associated Capital Group’s dividend payout ratio is currently 7.60%.

Institutional Investors Weigh In On Associated Capital Group

A number of hedge funds have recently made changes to their positions in the stock. Quent Capital LLC purchased a new stake in Associated Capital Group during the third quarter valued at approximately $240,000. Dynamic Advisor Solutions LLC grew its holdings 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 worth $449,000 after purchasing an additional 298 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Associated Capital Group by 28.4% during the third quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock worth $776,000 after purchasing an additional 4,841 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of 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 during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Associated Capital Group in the 2nd quarter worth $1,244,000. 8.14% of the stock is currently owned by hedge funds and other institutional investors.

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.