Associated Capital Group (NYSE:AC) Shares Gap Down – Here’s Why

Shares of Associated Capital Group, Inc. (NYSE:AC) gapped down prior to trading on Tuesday . The stock had previously closed at $36.18, but opened at $35.05. Associated Capital Group shares last traded at $35.96, with a volume of 1,800 shares traded.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Associated Capital Group from a “buy” rating to a “hold” rating in a research report on Friday, December 13th.

Associated Capital Group Trading Up 4.8 %

The firm has a market capitalization of $774.30 million, a P/E ratio of 13.86 and a beta of 0.87. The company’s fifty day simple moving average is $35.75 and its 200 day simple moving average is $34.73.

Associated Capital Group (NYSE:AC) last issued its quarterly earnings results on Friday, November 8th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter. Associated Capital Group had a net margin of 412.90% and a return on equity of 6.21%. The company had revenue of $2.42 million during the quarter.

Associated Capital Group Dividend Announcement

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

Institutional Trading of Associated Capital Group

A number of large investors have recently made changes to their positions in the stock. Dynamic Advisor Solutions LLC lifted its holdings in Associated Capital Group by 2.4% during 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. JPMorgan Chase & Co. lifted its holdings in Associated Capital Group by 11,616.7% during the third quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 697 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in 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 valued at $840,000 after purchasing an additional 800 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Associated Capital Group by 28.4% during the third quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock valued at $776,000 after purchasing an additional 4,841 shares in the last quarter. Finally, Quent Capital LLC purchased a new position in Associated Capital Group during the third quarter valued at approximately $240,000. 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.