Associated Capital Group (NYSE:AC) Shares Down 3.7% – Here’s Why

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

Analyst Ratings Changes

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

Associated Capital Group Trading Down 3.5 %

The stock has a fifty day moving average of $36.34 and a two-hundred day moving average of $34.26. The company has a market capitalization of $768.68 million, a PE ratio of 13.76 and a beta of 0.86.

Associated Capital Group Announces Dividend

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

Hedge Funds Weigh In On Associated Capital Group

Institutional investors and hedge funds have recently made changes to their positions in the business. OFI Invest Asset Management bought a new stake in Associated Capital Group during the 2nd quarter valued at $1,244,000. Quent Capital LLC bought a new stake in Associated Capital Group during the 1st quarter valued at approximately $222,000. Geode Capital Management LLC grew its holdings in shares of Associated Capital Group by 28.4% during 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 period. Renaissance Technologies LLC grew its holdings in shares of 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 acquiring an additional 800 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Associated Capital Group by 2.4% in the 3rd 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 in the last quarter. 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.