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

Associated Capital Group, Inc. (NYSE:AC - Get Free Report) major shareholder Mario J. Gabelli purchased 451 shares of the business's stock in a transaction dated 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 acquisition, the insider now owns 25,603 shares of the company's stock, valued at approximately $1,112,450.35. This represents a 1.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Associated Capital Group Trading Up 0.8%

NYSE AC traded up $0.29 on Tuesday, hitting $38.07. 3,314 shares of the company's stock were exchanged, compared to its average volume of 6,231. The stock has a 50-day moving average of $35.89 and a 200-day moving average of $36.14. Associated Capital Group, Inc. has a 52 week low of $28.58 and a 52 week high of $43.85. The stock has a market cap of $804.62 million, a price-to-earnings ratio of 18.39 and a beta of 0.61.

Associated Capital Group (NYSE:AC - Get Free Report) last announced its earnings results 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 company also recently announced 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. The ex-dividend date is Thursday, June 12th. This represents a dividend yield of 0.6%. Associated Capital Group's dividend payout ratio is presently 11.17%.

Institutional Trading of Associated Capital Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of 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 worth $25,000 after buying an additional 697 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 worth $790,000 after buying an additional 1,135 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Associated Capital Group by 17.6% in the 4th quarter. Northern Trust Corp now owns 18,375 shares of the financial services provider's stock worth $630,000 after buying an additional 2,755 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Associated Capital Group in the 4th quarter worth approximately $149,000. Finally, OFI Invest Asset Management purchased a new position in shares of Associated Capital Group in the 4th quarter worth approximately $1,092,000. 8.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Associated Capital Group from a "sell" rating to a "hold" rating in a research report on Saturday.

About Associated Capital Group

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.