Canaccord Genuity reiterated their buy rating on shares of Associated Capital Group, Inc. (NYSE:AC) in a research note issued to investors on Friday. They currently have a $27.00 price target on the financial services provider’s stock.

Separately, ValuEngine downgraded Associated Capital Group from a buy rating to a hold rating in a research note on Saturday, June 24th.

Shares of Associated Capital Group (NYSE AC) traded up 0.29% during midday trading on Friday, hitting $34.45. 14,518 shares of the stock were exchanged. Associated Capital Group has a 1-year low of $32.20 and a 1-year high of $39.35. The stock’s 50-day moving average price is $33.33 and its 200-day moving average price is $34.73. The firm’s market capitalization is $822.11 million.

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Associated Capital Group declared that its Board of Directors has approved a stock repurchase program on Thursday, August 3rd that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of Associated Capital Group by 2.1% in the second quarter. State Street Corp now owns 111,668 shares of the financial services provider’s stock valued at $3,793,000 after buying an additional 2,326 shares in the last quarter. Northern Trust Corp increased its position in shares of Associated Capital Group by 12.5% in the second quarter. Northern Trust Corp now owns 80,660 shares of the financial services provider’s stock valued at $2,743,000 after buying an additional 8,959 shares in the last quarter. Rice Hall James & Associates LLC increased its position in shares of Associated Capital Group by 25.3% in the second quarter. Rice Hall James & Associates LLC now owns 78,300 shares of the financial services provider’s stock valued at $2,662,000 after buying an additional 15,793 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Associated Capital Group by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 45,129 shares of the financial services provider’s stock valued at $1,535,000 after buying an additional 878 shares in the last quarter. Finally, River Road Asset Management LLC bought a new position in shares of Associated Capital Group during the second quarter valued at approximately $945,000. Institutional investors and hedge funds own 69.01% of the company’s stock.

About Associated Capital Group

Associated Capital Group, Inc is a parent operating company for the spin-off of GAMCO Investors, Inc’s (GAMCO’s) alternative investment management business, institutional research services operations and certain cash and other assets. The Company, through its subsidiaries, provides alternative investment management services and institutional research services, as well as management of its investment portfolio.

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