Insider Buying: Associated Capital Group, Inc. (NYSE:AC) Major Shareholder Acquires 451 Shares of Stock

Associated Capital Group, Inc. (NYSE:AC - Get Free Report) major shareholder Mario J. Gabelli purchased 451 shares of Associated Capital Group stock in a transaction on Friday, May 23rd. The stock was bought at an average cost of $43.45 per share, with a total value of $19,595.95. Following the transaction, the insider now directly owns 25,603 shares of the company's stock, valued at approximately $1,112,450.35. The trade was a 1.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Associated Capital Group Stock Down 1.5%

Shares of NYSE:AC traded down $0.57 during trading on Friday, reaching $37.91. The stock had a trading volume of 7,305 shares, compared to its average volume of 6,244. The stock has a fifty day simple moving average of $35.87 and a two-hundred day simple moving average of $36.13. Associated Capital Group, Inc. has a 52 week low of $28.58 and a 52 week high of $43.85. The firm has a market capitalization of $801.26 million, a price-to-earnings ratio of 18.31 and a beta of 0.61.

Associated Capital Group (NYSE:AC - Get Free Report) last posted 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 net margin of 336.45% and a return on equity of 4.88%.

Associated Capital Group Announces Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a dividend of $0.10 per share. 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%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Associated Capital Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AC. JPMorgan Chase & Co. boosted its position 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 valued at $25,000 after acquiring an additional 697 shares during the period. Empowered Funds LLC bought a new position in Associated Capital Group during the fourth quarter worth $149,000. Northern Trust Corp raised 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 valued at $630,000 after purchasing an additional 2,755 shares during the last quarter. Geode Capital Management LLC raised its stake in Associated Capital Group by 5.2% during the 4th 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. Finally, OFI Invest Asset Management bought a new stake in Associated Capital Group in the 4th quarter valued at $1,092,000. Institutional investors and hedge funds 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.