Associated Capital Group (NYSE:AC) Rating Lowered 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 released on Tuesday.

Associated Capital Group Stock Up 0.8 %

AC stock opened at $36.63 on Tuesday. The company has a market capitalization of $779.12 million, a price-to-earnings ratio of 13.93 and a beta of 0.86. The firm has a 50 day moving average of $35.96 and a two-hundred day moving average of $34.12. Associated Capital Group has a 12 month low of $28.58 and a 12 month high of $43.85.

Associated Capital Group Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AC. OFI Invest Asset Management bought a new stake in shares of Associated Capital Group in the second quarter valued at approximately $1,244,000. Quent Capital LLC acquired a new position in shares of Associated Capital Group during the first quarter valued at about $222,000. Renaissance Technologies LLC lifted its stake in shares of Associated Capital Group by 3.3% in the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock valued at $840,000 after buying an additional 800 shares during the period. Dynamic Advisor Solutions LLC grew its position in Associated Capital Group by 2.4% during the third quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock worth $449,000 after buying an additional 298 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in 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 valued at $776,000 after acquiring an additional 4,841 shares during the period. Institutional investors and hedge funds 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.