Associated Capital Group (NYSE:AC) Trading Down 5.1% – Here’s Why

Associated Capital Group, Inc. (NYSE:AC) shares dropped 5.1% during trading on Tuesday . The stock traded as low as $36.93 and last traded at $36.93. Approximately 5,346 shares were traded during trading, a decline of 13% from the average daily volume of 6,174 shares. The stock had previously closed at $38.91.

Associated Capital Group Trading Down 6.5 %

The stock has a market cap of $779.00 million, a P/E ratio of 23.56 and a beta of 0.88. The business has a 50-day simple moving average of $34.43 and a 200 day simple moving average of $33.54.

Associated Capital Group (NYSE:AC) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.14 EPS for the quarter. The company 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 company also recently disclosed a None dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 21st will be given a dividend of $2.00 per share. The ex-dividend date is Monday, October 21st. This is a boost from Associated Capital Group’s previous None dividend of $0.10. Associated Capital Group’s dividend payout ratio is 12.90%.

Institutional Trading of Associated Capital Group

A number of large investors have recently bought and sold shares of the business. OFI Invest Asset Management acquired a new stake in shares of Associated Capital Group during the 2nd quarter worth approximately $1,244,000. Quent Capital LLC acquired a new stake in Associated Capital Group in the first quarter worth $222,000. Renaissance Technologies LLC grew its holdings in Associated Capital Group by 3.3% in the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock worth $840,000 after purchasing an additional 800 shares during the period. Finally, Dynamic Advisor Solutions LLC increased 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 valued at $449,000 after purchasing an additional 298 shares in the last quarter. 8.14% of the stock is currently owned by institutional investors and hedge funds.

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.