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

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 Up 0.1 %

Shares of AC stock opened at $35.98 on Thursday. The firm has a market cap of $764.17 million, a price-to-earnings ratio of 13.68 and a beta of 0.87. Associated Capital Group has a 12 month low of $28.58 and a 12 month high of $43.85. The stock has a 50-day moving average price of $35.73 and a 200 day moving average price of $34.81.

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

Associated Capital Group Dividend Announcement

The business also recently disclosed a Semi-Annual dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid 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 presently 7.60%.

Hedge Funds Weigh In On Associated Capital Group

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of Associated Capital Group by 11,616.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after buying an additional 697 shares during the period. Quent Capital LLC acquired a new position in Associated Capital Group during the third quarter valued at approximately $240,000. Dynamic Advisor Solutions LLC increased its stake 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 valued at $449,000 after purchasing an additional 298 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 worth $776,000 after purchasing an additional 4,841 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of 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. 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.