Associated Capital Group, Inc. (NYSE:AC) Major Shareholder Mario J. Gabelli Buys 451 Shares

Associated Capital Group, Inc. (NYSE:AC) major shareholder Mario J. Gabelli bought 451 shares of the stock in a transaction on Friday, May 23rd. The stock was purchased at an average price of $43.45 per share, for a total transaction of $19,595.95. Following the completion of the purchase, the insider now directly owns 25,603 shares in the company, valued at approximately $1,112,450.35. This represents a 1.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Associated Capital Group Stock Performance

Associated Capital Group stock opened at $37.96 on Friday. Associated Capital Group, Inc. has a fifty-two week low of $28.58 and a fifty-two week high of $43.85. The stock has a market cap of $802.29 million, a P/E ratio of 18.34 and a beta of 0.61. The firm’s fifty day moving average price is $35.84 and its 200-day moving average price is $36.12.

Associated Capital Group (NYSE:AC) last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter. Associated Capital Group had a return on equity of 4.88% and a net margin of 336.45%.

Associated Capital Group Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.10 per share. This represents a yield of 0.6%. The ex-dividend date of this dividend is Thursday, June 12th. Associated Capital Group’s payout ratio is currently 11.17%.

Institutional Investors Weigh In On Associated Capital Group

Hedge funds have recently made changes to their positions in the business. Northern Trust Corp grew its holdings in shares of 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 during the last quarter. Geode Capital Management LLC lifted its position in Associated Capital Group by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 23,049 shares of the financial services provider’s stock valued at $790,000 after purchasing an additional 1,135 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Associated Capital Group during the fourth quarter valued at approximately $1,092,000. Empowered Funds LLC bought a new position in shares of Associated Capital Group in the fourth quarter worth approximately $149,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Associated Capital Group by 11,616.7% in the third quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after buying an additional 697 shares during the period. 8.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Associated Capital Group from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd.

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.