Associated Capital Group (NYSE:AC) Hits New 12-Month High – Still a Buy?

Associated Capital Group, Inc. (NYSE:AC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $50.00 and last traded at $37.55, with a volume of 541 shares changing hands. The stock had previously closed at $37.27.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Associated Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday.

Associated Capital Group Stock Performance

The firm has a market cap of $800.75 million, a PE ratio of 18.21 and a beta of 0.88. The company’s 50-day simple moving average is $36.26 and its two-hundred day simple moving average is $35.56.

Associated Capital Group (NYSE:AC) last announced its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $0.20 earnings per share 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

Several institutional investors have recently added to or reduced their stakes in AC. Geode Capital Management LLC boosted 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 valued at $776,000 after buying an additional 4,841 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Associated Capital Group by 11,616.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 697 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Associated Capital Group in the 4th quarter worth about $149,000. OFI Invest Asset Management bought a new position in shares of Associated Capital Group in the 4th quarter worth about $1,092,000. Finally, Northern Trust Corp increased its stake in Associated Capital Group by 17.6% during the 4th quarter. Northern Trust Corp now owns 18,375 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 2,755 shares in the last quarter. Hedge funds and other institutional investors own 8.14% of the company’s stock.

About Associated Capital Group

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.