Associated Capital Group, Inc. (NYSE:AC) Major Shareholder Acquires $67,304.05 in Stock

Associated Capital Group, Inc. (NYSE:AC - Get Free Report) major shareholder Mario J. Gabelli purchased 1,549 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was acquired at an average price of $43.45 per share, for a total transaction of $67,304.05. Following the completion of the transaction, the insider now owns 27,152 shares of the company's stock, valued at $1,179,754.40. This represents a 6.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions 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 traded hands, compared to its average volume of 6,231. Associated Capital Group, Inc. has a 1 year low of $28.58 and a 1 year high of $43.85. The firm has a 50-day moving average price of $35.89 and a 200-day moving average price of $36.14. The company has a market cap of $804.62 million, a PE ratio of 18.39 and a beta of 0.61.

Associated Capital Group (NYSE:AC - Get Free Report) last released its 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 4.88% and a net margin of 336.45%.

Associated Capital Group Dividend Announcement

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Associated Capital Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Associated Capital Group by 11,616.7% during the third 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 raised its stake in shares of Associated Capital Group by 5.2% in the fourth 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 in the last quarter. Northern Trust Corp raised its stake in shares of Associated Capital Group by 17.6% in the fourth 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 in the last quarter. Empowered Funds LLC acquired a new position in shares of Associated Capital Group in the fourth quarter valued at $149,000. Finally, OFI Invest Asset Management acquired a new position in shares of Associated Capital Group in the fourth quarter valued at $1,092,000. 8.14% of the stock is currently owned by institutional investors and hedge funds.

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.