Associated Capital Group (NYSE:AC) Sees Strong Trading Volume – Here’s Why

Shares of Associated Capital Group, Inc. (NYSE:AC) saw unusually-high trading volume on Wednesday . Approximately 4,589 shares changed hands during mid-day trading, an increase of 19% from the previous session’s volume of 3,853 shares.The stock last traded at $35.11 and had previously closed at $35.53.

Analyst Ratings Changes

Separately, StockNews.com upgraded Associated Capital Group from a “hold” rating to a “buy” rating in a report on Thursday.

Associated Capital Group Price Performance

The stock has a market capitalization of $764.28 million, a price-to-earnings ratio of 13.68 and a beta of 0.87. The business’s fifty day moving average price is $35.75 and its 200-day moving average price is $34.73.

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

Associated Capital Group Announces Dividend

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

Hedge Funds Weigh In On Associated Capital Group

A number of hedge funds and other institutional investors have recently made changes to their positions in AC. Renaissance Technologies LLC lifted 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 valued at $840,000 after buying an additional 800 shares during 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 during the last quarter. Dynamic Advisor Solutions LLC boosted its position 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 purchasing an additional 298 shares during the period. Quent Capital LLC purchased a new position in shares of Associated Capital Group in the third quarter worth about $240,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Associated Capital Group by 11,616.7% in the third quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 697 shares in the last quarter. 8.14% of the stock is owned by hedge funds and other institutional investors.

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.