Associated Capital Group (NYSE:AC) Sees Large Volume Increase – Here’s What Happened

Associated Capital Group, Inc. (NYSE:AC) shares saw an uptick in trading volume on Thursday . 33,057 shares were traded during trading, an increase of 433% from the previous session’s volume of 6,205 shares.The stock last traded at $36.71 and had previously closed at $36.33.

Analyst Upgrades and Downgrades

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

Associated Capital Group Stock Performance

The business has a fifty day simple moving average of $36.04 and a 200 day simple moving average of $34.14. The stock has a market cap of $773.56 million, a price-to-earnings ratio of 13.85 and a beta of 0.86.

Associated Capital Group Announces Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued 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 dividend payout ratio (DPR) is presently 7.60%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. OFI Invest Asset Management purchased a new position in shares of Associated Capital Group during the 2nd quarter worth $1,244,000. Quent Capital LLC purchased a new position in shares of Associated Capital Group during the 1st quarter worth $222,000. Renaissance Technologies LLC lifted its stake 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 during the period. Dynamic Advisor Solutions LLC raised 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 period. Finally, Geode Capital Management LLC raised its position in shares of Associated Capital Group by 28.4% in the 3rd quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock worth $776,000 after buying an additional 4,841 shares during the period. Hedge funds and other institutional investors own 8.14% of the company’s stock.

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.