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

StockNews.com assumed coverage on shares of Associated Capital Group (NYSE:AC) in a report issued on Sunday. The brokerage issued a hold rating on the financial services provider’s stock.

Associated Capital Group Stock Up 0.5 %

Associated Capital Group stock opened at $39.40 on Friday. Associated Capital Group has a 52-week low of $28.58 and a 52-week high of $43.85. The firm’s fifty day moving average is $36.06 and its 200 day moving average is $35.36. The company has a market cap of $836.86 million, a price-to-earnings ratio of 19.03 and a beta of 0.88.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AC. Northern Trust Corp lifted its position in shares of 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 valued at $630,000 after buying an additional 2,755 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Associated Capital Group by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 23,049 shares of the financial services provider’s stock worth $790,000 after buying an additional 1,135 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Associated Capital Group during the 4th quarter worth approximately $1,092,000. Empowered Funds LLC purchased a new stake in Associated Capital Group during the fourth quarter valued at approximately $149,000. Finally, JPMorgan Chase & Co. lifted its position in 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. 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.