Associated Capital Group (NYSE:AC) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Associated Capital Group, Inc. (NYSE:AC) saw unusually-strong trading volume on Wednesday . Approximately 4,589 shares changed hands during 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.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Associated Capital Group from a “hold” rating to a “buy” rating in a research note on Thursday.

Associated Capital Group Trading Up 0.1 %

The company has a market capitalization of $764.28 million, a P/E 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 posted its quarterly earnings data on Friday, November 8th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter. The firm had revenue of $2.42 million during the quarter. Associated Capital Group had a return on equity of 6.21% and a net margin of 412.90%.

Associated Capital Group Dividend Announcement

The firm 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. This represents a dividend yield of 0.6%. The ex-dividend date was Thursday, December 5th. Associated Capital Group’s dividend payout ratio (DPR) is presently 7.60%.

Institutional Trading of Associated Capital Group

Several institutional investors have recently added to or reduced their stakes in AC. JPMorgan Chase & Co. boosted its stake in shares of Associated Capital Group by 11,616.7% during 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. Geode Capital Management LLC raised its holdings in Associated Capital Group by 28.4% during the 3rd quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock valued at $776,000 after buying 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 3rd quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock valued at $449,000 after buying an additional 298 shares during the period. Quent Capital LLC bought a new stake in Associated Capital Group in the 3rd quarter worth $240,000. Finally, Renaissance Technologies LLC increased its position in shares of Associated Capital Group by 3.3% in 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 period. 8.14% of the stock is currently owned by hedge funds and other institutional investors.

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.