Horizon Kinetics Asset Management LLC Sells 36,428 Shares of Associated Capital Group, Inc. (NYSE:AC)

Horizon Kinetics Asset Management LLC lessened its stake in Associated Capital Group, Inc. (NYSE:AC) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 975,128 shares of the financial services provider’s stock after selling 36,428 shares during the period. Associated Capital Group comprises about 0.5% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 21st largest holding. Horizon Kinetics Asset Management LLC owned approximately 4.58% of Associated Capital Group worth $34,539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Quent Capital LLC purchased a new stake in shares of Associated Capital Group during the first quarter worth about $222,000. Dynamic Advisor Solutions LLC grew its position in shares of Associated Capital Group by 2.4% in the 3rd 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 during the last quarter. Renaissance Technologies LLC increased 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 valued at $840,000 after buying an additional 800 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Associated Capital Group during the second quarter valued at approximately $1,244,000. 8.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Associated Capital Group Stock Performance

AC stock opened at $36.42 on Monday. Associated Capital Group, Inc. has a fifty-two week low of $28.58 and a fifty-two week high of $43.85. The company has a market capitalization of $773.56 million, a price-to-earnings ratio of 13.85 and a beta of 0.86. The business’s 50 day moving average price is $36.10 and its two-hundred day moving average price is $34.19.

Associated Capital Group Announces Dividend

The company also recently disclosed 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 of this dividend is Thursday, December 5th. Associated Capital Group’s dividend payout ratio is currently 7.60%.

Associated Capital Group 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.