Associated Capital Group (NYSE:AC) Sees Large Volume Increase – Time to Buy?

Shares of Associated Capital Group, Inc. (NYSE:AC) saw unusually-strong trading volume on Thursday . Approximately 7,995 shares traded 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 Trading Up 5.7 %

The firm has a market cap of $922.38 million, a price-to-earnings ratio of 27.81 and a beta of 0.88. The firm’s 50-day moving average is $34.32 and its 200-day moving average is $33.48.

Associated Capital Group (NYSE:AC) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter. Associated Capital Group had a net margin of 246.48% and a return on equity of 3.65%. The firm 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 paid a $2.00 dividend. The ex-dividend date is Monday, October 21st. This is an increase from Associated Capital Group’s previous None dividend of $0.10. Associated Capital Group’s dividend payout ratio is 12.90%.

Institutional Trading of Associated Capital Group

Institutional investors have recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Associated Capital Group in the 2nd quarter worth approximately $1,244,000. Quent Capital LLC purchased a new stake in Associated Capital Group during the first quarter worth about $222,000. Renaissance Technologies LLC raised its position in 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 worth $840,000 after acquiring an additional 800 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its position in shares of 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 acquiring an additional 298 shares during the period. Institutional investors own 8.14% of the company’s stock.

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.