Vanguard Group Inc. Cuts Holdings in Associated Capital Group Inc (NYSE:AC)

Vanguard Group Inc. decreased its holdings in Associated Capital Group Inc (NYSE:AC) by 4.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 212,237 shares of the financial services provider’s stock after selling 8,872 shares during the period. Vanguard Group Inc. owned approximately 0.94% of Associated Capital Group worth $7,938,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Marshall Wace North America L.P. purchased a new stake in shares of Associated Capital Group in the 1st quarter valued at $52,000. Swiss National Bank boosted its position in Associated Capital Group by 6.5% during the 2nd quarter. Swiss National Bank now owns 6,600 shares of the financial services provider’s stock valued at $247,000 after buying an additional 400 shares during the period. Marshall Wace LLP purchased a new stake in Associated Capital Group during the 1st quarter valued at $270,000. Renaissance Technologies LLC boosted its position in Associated Capital Group by 45.3% during the 2nd quarter. Renaissance Technologies LLC now owns 26,000 shares of the financial services provider’s stock valued at $972,000 after buying an additional 8,100 shares during the period. Finally, Northern Trust Corp boosted its position in Associated Capital Group by 2.2% during the 2nd quarter. Northern Trust Corp now owns 34,653 shares of the financial services provider’s stock valued at $1,296,000 after buying an additional 736 shares during the period. 11.86% of the stock is owned by institutional investors.

Shares of AC stock remained flat at $$38.46 during trading hours on Friday. 40 shares of the stock traded hands, compared to its average volume of 7,139. The firm has a 50 day moving average price of $36.76 and a 200 day moving average price of $37.60. Associated Capital Group Inc has a 12-month low of $32.12 and a 12-month high of $46.86.

Associated Capital Group (NYSE:AC) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $4.82 million for the quarter. Associated Capital Group had a negative net margin of 111.98% and a negative return on equity of 0.41%.

AC has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $48.00 target price on shares of Associated Capital Group in a report on Friday, July 12th. TheStreet cut shares of Associated Capital Group from a “c” rating to a “d+” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. cut shares of Associated Capital Group from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $42.00 to $50.00 in a report on Friday, August 2nd. CIBC raised their target price on shares of Associated Capital Group from $53.00 to $54.00 in a report on Thursday, October 17th. Finally, Macquarie started coverage on shares of Associated Capital Group in a research report on Tuesday, October 8th. They set an “outperform” rating and a $58.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Associated Capital Group has a consensus rating of “Hold” and an average target price of $47.29.

In other news, major shareholder Mario J. Gabelli purchased 3,316 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average cost of $34.63 per share, for a total transaction of $114,833.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mario J. Gabelli purchased 1,836 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average price of $34.22 per share, for a total transaction of $62,827.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 25,472 shares of company stock worth $263,529. 83.73% of the stock is owned by corporate insiders.

Associated Capital Group Company Profile

Associated Capital Group, Inc provides investment advisory and asset management services in the United States. It offers alternative investment management, institutional research, and underwriting services. The company was founded in 2015 and is headquartered in Rye, New York.

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Institutional Ownership by Quarter for Associated Capital Group (NYSE:AC)

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