Associated Capital Group (NYSE:AC) Raised 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 issued on Thursday.

Associated Capital Group Stock Performance

AC opened at $36.46 on Thursday. The company has a fifty day moving average of $35.75 and a two-hundred day moving average of $34.73. Associated Capital Group has a fifty-two week low of $28.58 and a fifty-two week high of $43.85. The stock has a market capitalization of $774.30 million, a price-to-earnings ratio of 13.86 and a beta of 0.87.

Associated Capital Group (NYSE:AC) last announced its quarterly earnings results on Friday, November 8th. The financial services provider reported $1.09 earnings per share for the quarter. The firm had revenue of $2.42 million during the quarter. Associated Capital Group had a return on equity of 6.21% and a net margin of 412.90%.

Associated Capital Group Dividend Announcement

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

Institutional Investors Weigh In On Associated Capital Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Associated Capital Group by 11,616.7% during the third quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 697 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. Dynamic Advisor Solutions LLC raised its stake 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 during the last quarter. Quent Capital LLC purchased a new position in Associated Capital Group in the 3rd quarter valued at $240,000. Finally, Renaissance Technologies LLC boosted 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 purchasing an additional 800 shares during the last quarter. Hedge funds and other 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.