Associated Capital Group, Inc. (NYSE:AC) Major Shareholder Mario J. Gabelli Buys 352 Shares

Associated Capital Group, Inc. (NYSE:AC) major shareholder Mario J. Gabelli purchased 352 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was acquired at an average cost of $41.50 per share, for a total transaction of $14,608.00. Following the completion of the acquisition, the insider now owns 25,152 shares in the company, valued at $1,043,808. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Associated Capital Group Price Performance

Shares of AC opened at $36.86 on Tuesday. The stock has a market capitalization of $788.84 million, a price-to-earnings ratio of 23.78 and a beta of 0.88. Associated Capital Group, Inc. has a 1 year low of $28.58 and a 1 year high of $37.15. The business’s 50 day simple moving average is $33.75 and its 200-day simple moving average is $33.28.

Associated Capital Group (NYSE:AC) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.14 earnings per share for the quarter. The firm had revenue of $2.60 million for the quarter. Associated Capital Group had a return on equity of 3.65% and a net margin of 246.48%.

Associated Capital Group Increases Dividend

The firm also recently disclosed a None dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 21st will be given a $2.00 dividend. The ex-dividend date of this dividend is Monday, October 21st. This is an increase from Associated Capital Group’s previous None dividend of $0.10. Associated Capital Group’s dividend payout ratio is 12.90%.

Hedge Funds Weigh In On Associated Capital Group

Hedge funds have recently bought and sold shares of the business. Quent Capital LLC bought a new position in Associated Capital Group in the 1st quarter valued at $222,000. Dynamic Advisor Solutions LLC grew its position in Associated Capital Group by 2.4% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 298 shares during the last quarter. Renaissance Technologies LLC grew its position in Associated Capital Group by 3.3% in 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 position in Associated Capital Group in the 2nd quarter valued at $1,244,000. Institutional investors 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.