Insider Buying: Associated Capital Group, Inc. (NYSE:AC) Major Shareholder Purchases 352 Shares of Stock

Associated Capital Group, Inc. (NYSE:AC) major shareholder Mario J. Gabelli bought 352 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was bought at an average price of $41.50 per share, with a total value of $14,608.00. Following the acquisition, the insider now directly owns 25,152 shares in the company, valued at $1,043,808. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Associated Capital Group Stock Up 5.0 %

AC opened at $40.60 on Friday. Associated Capital Group, Inc. has a 52 week low of $28.58 and a 52 week high of $41.45. The business has a fifty day simple moving average of $34.12 and a 200-day simple moving average of $33.40. The firm has a market cap of $868.88 million, a P/E ratio of 26.19 and a beta of 0.88.

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

Associated Capital Group Increases Dividend

The business also recently announced a None dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 21st will be issued a $2.00 dividend. This is a boost from Associated Capital Group’s previous None dividend of $0.10. The ex-dividend date of this dividend is Monday, October 21st. Associated Capital Group’s dividend payout ratio is presently 12.90%.

Hedge Funds Weigh In On Associated Capital Group

Several hedge funds have recently made changes to their positions in AC. Quent Capital LLC purchased a new position in shares of Associated Capital Group during the first quarter worth approximately $222,000. Dynamic Advisor Solutions LLC raised its holdings in shares of 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 valued at $449,000 after buying an additional 298 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Associated Capital Group by 3.3% during the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock worth $840,000 after buying an additional 800 shares during the period. Finally, OFI Invest Asset Management purchased a new position in shares of Associated Capital Group during the second quarter worth about $1,244,000. Hedge funds and other 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.