Associated Capital Group (NYSE:AC) Trading Down 4.1% – Here’s Why

Associated Capital Group, Inc. (NYSE:AC)’s share price traded down 4.1% during mid-day trading on Monday . The stock traded as low as $35.80 and last traded at $35.80. 336 shares were traded during mid-day trading, a decline of 95% from the average session volume of 6,249 shares. The stock had previously closed at $37.33.

Analyst Ratings Changes

Separately, StockNews.com downgraded Associated Capital Group from a “buy” rating to a “hold” rating in a report on Friday, December 13th.

Associated Capital Group Stock Performance

The company has a market capitalization of $758.16 million, a P/E ratio of 13.57 and a beta of 0.87. The company’s fifty day simple moving average is $36.59 and its 200-day simple moving average is $34.47.

Associated Capital Group Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.10 per share. This represents a dividend yield of 0.6%. The ex-dividend date is Thursday, December 5th. Associated Capital Group’s dividend payout ratio (DPR) is currently 7.60%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AC. Renaissance Technologies LLC grew its stake in Associated Capital Group by 3.3% during the 2nd quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock worth $840,000 after buying an additional 800 shares during the last quarter. Dynamic Advisor Solutions LLC grew 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 worth $449,000 after acquiring an additional 298 shares during the last quarter. Quent Capital LLC acquired a new position in shares of Associated Capital Group during the third quarter valued at about $240,000. Finally, Geode Capital Management LLC raised its position in shares of Associated Capital Group by 28.4% in the 3rd quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock valued at $776,000 after purchasing an additional 4,841 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.