Associated Capital Group (NYSE:AC) Trading Down 4.1% – Here’s Why

Associated Capital Group, Inc. (NYSE:AC)’s stock price dropped 4.1% during mid-day trading on Monday . The stock traded as low as $35.80 and last traded at $35.80. Approximately 336 shares traded hands during trading, a decline of 95% from the average daily volume of 6,249 shares. The stock had previously closed at $37.33.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Associated Capital Group from a “buy” rating to a “hold” rating in a research note on Friday.

Associated Capital Group Stock Down 4.1 %

The stock has a market cap of $760.39 million, a price-to-earnings ratio of 14.19 and a beta of 0.87. The stock has a 50 day simple moving average of $36.59 and a 200 day simple moving average of $34.44.

Associated Capital Group Announces Dividend

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

Institutional Investors Weigh In On Associated Capital Group

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC raised its holdings 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 buying an additional 800 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake 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 purchasing an additional 298 shares during the last quarter. Quent Capital LLC purchased a new stake in Associated Capital Group in the third quarter worth $240,000. Finally, Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 4,841 shares in the last quarter. 8.14% of the stock is currently 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.