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

Associated Capital Group, Inc. (NYSE:AC) shares gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Associated Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, December 13th.

Associated Capital Group Price Performance

The stock has a market cap of $760.28 million, a P/E ratio of 13.58 and a beta of 0.87. The business’s fifty day moving average price is $35.77 and its 200 day moving average price is $34.68.

Associated Capital Group Announces Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a yield of 0.6%. Associated Capital Group’s dividend payout ratio (DPR) is presently 7.60%.

Hedge Funds Weigh In On Associated Capital Group

A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position 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 worth $840,000 after purchasing an additional 800 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 4,841 shares in the last quarter. Dynamic Advisor Solutions LLC grew 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 worth $449,000 after buying an additional 298 shares in the last quarter. Quent Capital LLC purchased a new stake in Associated Capital Group in the 3rd quarter valued at $240,000. Finally, JPMorgan Chase & Co. boosted its holdings in Associated Capital Group by 11,616.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 697 shares during 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.