Associated Capital Group (NYSE:AC) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Associated Capital Group (NYSE:AC - Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Associated Capital Group Price Performance

Shares of NYSE:AC traded up $0.76 on Friday, hitting $38.56. 415 shares of the company's stock were exchanged, compared to its average volume of 6,209. Associated Capital Group has a 12 month low of $28.58 and a 12 month high of $43.85. The business's 50 day simple moving average is $35.89 and its two-hundred day simple moving average is $36.14. The stock has a market capitalization of $814.98 million, a price-to-earnings ratio of 18.63 and a beta of 0.61.

Associated Capital Group (NYSE:AC - Get Free Report) last released its earnings results on Thursday, May 8th. The financial services provider reported $0.36 EPS for the quarter. Associated Capital Group had a net margin of 336.45% and a return on equity of 4.88%.

Associated Capital Group Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.10 per share. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, June 12th. Associated Capital Group's payout ratio is 11.17%.

Insider Activity

In other Associated Capital Group news, major shareholder Mario J. Gabelli bought 1,549 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were acquired at an average price of $43.45 per share, with a total value of $67,304.05. Following the purchase, the insider now owns 27,152 shares in the company, valued at approximately $1,179,754.40. The trade was a 6.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 2,300 shares of company stock worth $89,021 in the last 90 days. 87.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Associated Capital Group

Hedge funds have recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new position in shares of Associated Capital Group in the fourth quarter worth $1,092,000. Empowered Funds LLC acquired a new position in shares of Associated Capital Group during the fourth quarter valued at approximately $149,000. Northern Trust Corp raised its holdings in Associated Capital Group by 17.6% during the fourth quarter. Northern Trust Corp now owns 18,375 shares of the financial services provider's stock worth $630,000 after purchasing an additional 2,755 shares in the last quarter. Geode Capital Management LLC lifted its position in Associated Capital Group by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 23,049 shares of the financial services provider's stock worth $790,000 after purchasing an additional 1,135 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in 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 valued at $25,000 after purchasing an additional 697 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.