StockNews.com Initiates Coverage on Associated Capital Group (NYSE:AC)

StockNews.com assumed coverage on shares of Associated Capital Group (NYSE:AC - Free Report) in a report published on Saturday morning. The firm issued a hold rating on the financial services provider's stock.

Associated Capital Group Stock Down 1.8 %

Shares of AC stock traded down $0.70 during trading on Friday, hitting $37.65. The company had a trading volume of 9,203 shares, compared to its average volume of 4,789. Associated Capital Group has a 52 week low of $28.58 and a 52 week high of $43.85. The stock has a market capitalization of $799.73 million, a price-to-earnings ratio of 18.19 and a beta of 0.88. The stock's 50-day moving average is $35.77 and its two-hundred day moving average is $35.18.

Associated Capital Group (NYSE:AC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $0.20 EPS for the quarter. Associated Capital Group had a net margin of 336.45% and a return on equity of 4.88%.

Institutional Investors Weigh In On Associated Capital Group

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Associated Capital Group by 28.4% during the 3rd quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider's stock worth $776,000 after acquiring an additional 4,841 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of 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 valued at $449,000 after purchasing an additional 298 shares during the period. OFI Invest Asset Management bought a new position in shares of Associated Capital Group in the fourth quarter worth approximately $1,092,000. Empowered Funds LLC purchased a new position in shares of Associated Capital Group in the fourth quarter worth $149,000. Finally, JPMorgan Chase & Co. raised its holdings 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 buying an additional 697 shares during the last quarter. Hedge funds and other institutional investors 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.