Associated Capital Group (NYSE:AC) Reaches New 52-Week High - Time to Buy?

Associated Capital Group, Inc. (NYSE:AC - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $37.15 and last traded at $36.23, with a volume of 9220 shares traded. The stock had previously closed at $35.66.

Associated Capital Group Stock Performance

The stock has a 50-day simple moving average of $33.45 and a 200 day simple moving average of $33.14. The stock has a market capitalization of $782.85 million, a P/E ratio of 23.31 and a beta of 0.88.

Associated Capital Group (NYSE:AC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $2.60 million for the quarter. Associated Capital Group had a return on equity of 3.65% and a net margin of 246.48%.

Associated Capital Group Increases Dividend

The firm also recently declared a None dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 21st will be paid a dividend of $2.00 per share. This is an increase from Associated Capital Group's previous None dividend of $0.10. The ex-dividend date is Monday, October 21st. Associated Capital Group's payout ratio is 12.90%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Quent Capital LLC bought a new stake in shares of Associated Capital Group in the 1st quarter valued at $222,000. Dynamic Advisor Solutions LLC raised its position in shares of 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. Renaissance Technologies LLC lifted its holdings 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 valued at $840,000 after purchasing an additional 800 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Associated Capital Group in the 2nd quarter valued at approximately $1,244,000. Institutional investors and hedge funds 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.