Associated Capital Group (NYSE:AC) Trading Up 0.2% - Here's Why

Associated Capital Group, Inc. (NYSE:AC - Get Free Report)'s share price shot up 0.2% during mid-day trading on Monday . The company traded as high as $37.47 and last traded at $37.34. Approximately 4,073 shares changed hands during trading, a decline of 23% from the average session volume of 5,260 shares. The stock had previously closed at $37.25.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Associated Capital Group from a "sell" rating to a "hold" rating in a report on Saturday, May 31st.

Associated Capital Group Price Performance

The firm has a market cap of $791.38 million, a PE ratio of 20.91 and a beta of 0.59. The business has a fifty day moving average price of $37.59 and a two-hundred day moving average price of $36.59.

Associated Capital Group (NYSE:AC - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $0.36 earnings per share for the quarter. Associated Capital Group had a return on equity of 4.24% and a net margin of 310.55%.

Associated Capital Group Dividend Announcement

The company also recently announced a semi-annual dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a $0.10 dividend. The ex-dividend date was Thursday, June 12th. This represents a yield of 0.6%. Associated Capital Group's dividend payout ratio (DPR) is currently 11.17%.

Insider Buying and Selling

In other news, major shareholder Mario J. Gabelli bought 1,549 shares of the stock in a transaction on Wednesday, May 28th. The shares were purchased at an average price of $43.45 per share, for a total transaction of $67,304.05. Following the completion of the purchase, the insider directly owned 27,152 shares of the company's stock, valued at $1,179,754.40. This trade represents a 6.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 88.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Associated Capital Group

A hedge fund recently raised its stake in Associated Capital Group stock. Northern Trust Corp raised its position in Associated Capital Group, Inc. (NYSE:AC - Free Report) by 17.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,375 shares of the financial services provider's stock after acquiring an additional 2,755 shares during the period. Northern Trust Corp owned about 0.09% of Associated Capital Group worth $630,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 8.14% of the company's stock.

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.