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

Associated Capital Group, Inc. (NYSE:AC - Get Free Report) major shareholder Mario J. Gabelli acquired 1,549 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were bought 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 approximately $1,179,754.40. This trade represents a 6.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Associated Capital Group Trading Down 1.5%

Shares of AC stock traded down $0.57 during trading hours on Friday, reaching $37.91. 7,305 shares of the stock were exchanged, compared to its average volume of 6,244. 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, Inc. has a 12-month low of $28.58 and a 12-month high of $43.85. The company's 50-day moving average price is $35.87 and its 200-day moving average price is $36.13.

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 Announces Dividend

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

Institutional Trading of Associated Capital Group

Several institutional investors and hedge funds have recently modified their holdings of AC. JPMorgan Chase & Co. increased its holdings in Associated Capital Group by 11,616.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider's stock worth $25,000 after purchasing an additional 697 shares during the period. Empowered Funds LLC bought a new position in shares of Associated Capital Group during the 4th quarter worth $149,000. Northern Trust Corp increased its stake in shares of Associated Capital Group by 17.6% during the fourth quarter. Northern Trust Corp now owns 18,375 shares of the financial services provider's stock valued at $630,000 after buying an additional 2,755 shares during the period. Geode Capital Management LLC raised its holdings 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 acquiring an additional 1,135 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Associated Capital Group in the fourth quarter valued at about $1,092,000. Institutional investors own 8.14% of the company's stock.

Analyst Ratings Changes

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

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.