Insider Buying: Associated Capital Group, Inc. (NYSE:AC) Major Shareholder Buys 1,549 Shares of Stock

Associated Capital Group, Inc. (NYSE:AC) major shareholder Mario J. Gabelli purchased 1,549 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were purchased at an average price of $43.45 per share, with a total value of $67,304.05. Following the acquisition, the insider now directly owns 27,152 shares in the company, valued at approximately $1,179,754.40. The trade was a 6.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Associated Capital Group Stock Down 0.5%

Shares of Associated Capital Group stock opened at $37.96 on Friday. The firm has a market cap of $802.29 million, a PE ratio of 18.34 and a beta of 0.61. Associated Capital Group, Inc. has a 52 week low of $28.58 and a 52 week high of $43.85. The business’s fifty day simple moving average is $35.84 and its 200-day simple moving average is $36.12.

Associated Capital Group (NYSE:AC) last issued 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 net margin of 336.45% and a return on equity of 4.88%.

Associated Capital Group Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a $0.10 dividend. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, June 12th. Associated Capital Group’s dividend payout ratio (DPR) is 11.17%.

Hedge Funds Weigh In On Associated Capital Group

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in 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 valued at $25,000 after purchasing an additional 697 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Associated Capital Group during the fourth quarter worth $149,000. OFI Invest Asset Management acquired a new stake in shares of Associated Capital Group in the fourth quarter valued at $1,092,000. Geode Capital Management LLC raised its holdings in shares of Associated Capital Group by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 23,049 shares of the financial services provider’s stock valued at $790,000 after buying an additional 1,135 shares during the period. Finally, Northern Trust Corp lifted 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 worth $630,000 after acquiring an additional 2,755 shares in the last quarter. 8.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Associated Capital Group from a “hold” rating to a “sell” rating in a research report 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.