Associated Capital Group (NYSE:AC) Sees Strong Trading Volume – Should You Buy?

Associated Capital Group, Inc. (NYSE:AC) saw unusually-strong trading volume on Wednesday . Approximately 831 shares traded hands during trading, a decline of 50% from the previous session’s volume of 1,666 shares.The stock last traded at $34.81 and had previously closed at $35.35.

Analyst Upgrades and Downgrades

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

Associated Capital Group Stock Performance

The company has a 50 day moving average of $35.91 and a two-hundred day moving average of $34.58. The stock has a market capitalization of $729.28 million, a PE ratio of 13.06 and a beta of 0.87.

Associated Capital Group Announces Dividend

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

Institutional Trading of Associated Capital Group

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in Associated Capital Group by 11,616.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 697 shares during the period. Quent Capital LLC acquired a new position in Associated Capital Group in the 3rd quarter worth about $240,000. Dynamic Advisor Solutions LLC raised its holdings in 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 purchasing an additional 298 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 4,841 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings 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 acquiring an additional 800 shares during the last quarter. 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.