Associated Capital Group (NYSE:AC) Shares Down 3.7% – What’s Next?

Shares of Associated Capital Group, Inc. (NYSE:AC) were down 3.7% during mid-day trading on Wednesday . The stock traded as low as $36.12 and last traded at $36.12. Approximately 811 shares were traded during trading, a decline of 87% from the average daily volume of 6,268 shares. The stock had previously closed at $37.50.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Associated Capital Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

Associated Capital Group Trading Down 2.2 %

The firm has a market cap of $778.66 million, a PE ratio of 13.87 and a beta of 0.86. The company has a 50 day moving average price of $36.22 and a 200 day moving average price of $34.24.

Associated Capital Group Dividend Announcement

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

Institutional Investors Weigh In On Associated Capital Group

Several hedge funds have recently modified their holdings of AC. Quent Capital LLC acquired a new position in Associated Capital Group during the first quarter valued at approximately $222,000. Dynamic Advisor Solutions LLC grew its stake 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of Associated Capital Group by 28.4% during the 3rd quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock valued at $776,000 after buying an additional 4,841 shares during the period. Renaissance Technologies LLC boosted its holdings 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 worth $840,000 after acquiring an additional 800 shares during the period. Finally, OFI Invest Asset Management bought a new position in Associated Capital Group during the 2nd quarter valued at $1,244,000. 8.14% of the stock is owned by institutional investors and hedge funds.

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.