Associated Capital Group (NYSE:AC) Trading Down 3.7% – Here’s What Happened

Associated Capital Group, Inc. (NYSE:AC) dropped 3.7% during mid-day trading on Wednesday . The company traded as low as $36.12 and last traded at $36.12. Approximately 811 shares changed hands during trading, a decline of 87% from the average daily volume of 6,268 shares. The stock had previously closed at $37.50.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Associated Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday.

Associated Capital Group Stock Performance

The stock has a market capitalization of $768.68 million, a P/E ratio of 13.76 and a beta of 0.86. The business has a 50-day moving average price of $36.34 and a 200 day moving average price of $34.26.

Associated Capital Group Announces Dividend

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

Hedge Funds Weigh In On Associated Capital Group

Several large investors have recently modified their holdings of AC. Quent Capital LLC purchased a new stake in Associated Capital Group during the 1st quarter valued at about $222,000. OFI Invest Asset Management bought a new position in shares of Associated Capital Group in the second quarter worth approximately $1,244,000. Renaissance Technologies LLC grew its holdings in shares of Associated Capital Group by 3.3% during the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock valued at $840,000 after buying an additional 800 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position 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 valued at $449,000 after acquiring an additional 298 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in 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 worth $776,000 after acquiring 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.