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

Associated Capital Group, Inc. (NYSE:AC) saw unusually-strong trading volume on Tuesday . Approximately 2,674 shares traded hands during mid-day trading, an increase of 4% from the previous session’s volume of 2,578 shares.The stock last traded at $35.10 and had previously closed at $34.91.

Wall Street Analysts Forecast Growth

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

Associated Capital Group Trading Up 0.4 %

The company has a market capitalization of $744.36 million, a price-to-earnings ratio of 13.33 and a beta of 0.87. The company has a fifty day moving average of $35.86 and a 200-day moving average of $34.59.

Associated Capital Group Dividend Announcement

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

Institutional Trading of Associated Capital Group

Several institutional investors have recently made changes to their positions in AC. Renaissance Technologies LLC increased its holdings in Associated Capital Group by 3.3% in the 2nd quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 800 shares during the last quarter. Quent Capital LLC acquired a new position in Associated Capital Group in the 3rd quarter valued at about $240,000. Dynamic Advisor Solutions LLC increased 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 purchasing an additional 298 shares during the period. Geode Capital Management LLC lifted its position 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 worth $776,000 after purchasing an additional 4,841 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted 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 valued at $25,000 after purchasing an additional 697 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.