Associated Capital Group (NYSE:AC) Sees Unusually-High Trading Volume – Here’s What Happened

Associated Capital Group, Inc. (NYSE:AC) shares saw an uptick in trading volume on Thursday . 7,995 shares changed hands during mid-day trading, an increase of 38% from the previous session’s volume of 5,773 shares.The stock last traded at $40.00 and had previously closed at $38.67.

Associated Capital Group Stock Up 5.5 %

The company has a market cap of $872.95 million, a price-to-earnings ratio of 26.39 and a beta of 0.88. The company’s fifty day moving average price is $33.97 and its two-hundred day moving average price is $33.35.

Associated Capital Group (NYSE:AC) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $0.14 EPS for the quarter. Associated Capital Group had a net margin of 246.48% and a return on equity of 3.65%. The business had revenue of $2.60 million during the quarter.

Associated Capital Group Increases Dividend

The business also recently disclosed a None dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 21st will be given a $2.00 dividend. The ex-dividend date of this dividend is Monday, October 21st. This is a positive change from Associated Capital Group’s previous None dividend of $0.10. Associated Capital Group’s dividend payout ratio is presently 12.90%.

Hedge Funds Weigh In On Associated Capital Group

Large investors have recently modified their holdings of the stock. OFI Invest Asset Management acquired a new stake in Associated Capital Group during the second quarter worth about $1,244,000. Quent Capital LLC acquired a new stake in Associated Capital Group during the first quarter worth about $222,000. Renaissance Technologies LLC grew its stake 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 worth $840,000 after buying an additional 800 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its stake 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. 8.14% of the stock is owned by 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.