Associated Capital Group (NYSE:AC) Stock Price Down 3.7% – Here’s What Happened

Associated Capital Group, Inc. (NYSE:AC) fell 3.7% during mid-day trading on Wednesday . The company traded as low as $36.12 and last traded at $36.12. 811 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 6,268 shares. The stock had previously closed at $37.50.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Associated Capital Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th.

Associated Capital Group Stock Down 2.2 %

The firm has a market capitalization of $778.66 million, a P/E ratio of 13.87 and a beta of 0.86. The business’s 50 day moving average is $36.22 and its two-hundred day moving average is $34.24.

Associated Capital Group Dividend Announcement

The business also recently declared a Semi-Annual dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.10 dividend. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, December 5th. Associated Capital Group’s dividend payout ratio is currently 7.60%.

Hedge Funds Weigh In On Associated Capital Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AC. Quent Capital LLC bought a new stake in shares of Associated Capital Group in the 1st quarter worth approximately $222,000. Dynamic Advisor Solutions LLC grew its position in Associated Capital Group by 2.4% in the third quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock worth $449,000 after buying an additional 298 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Associated Capital Group by 28.4% in the third quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock valued at $776,000 after buying an additional 4,841 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Associated Capital Group by 3.3% during the 2nd quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock valued at $840,000 after acquiring an additional 800 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Associated Capital Group during the 2nd quarter worth $1,244,000. 8.14% of the stock is owned by institutional investors.

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.