Associated Capital Group (NYSE:AC) Hits New 1-Year High - Here's Why

Shares of Associated Capital Group, Inc. (NYSE:AC - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $37.97 and last traded at $37.80, with a volume of 2328 shares. The stock had previously closed at $36.86.

Associated Capital Group Stock Performance

The stock has a fifty day moving average of $33.75 and a 200-day moving average of $33.28. The company has a market cap of $812.38 million, a PE ratio of 24.53 and a beta of 0.88.

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

Associated Capital Group Increases Dividend

The business also recently announced a None dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 21st will be paid a $2.00 dividend. 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 dividend payout ratio is currently 12.90%.

Hedge Funds Weigh In On Associated Capital Group

Several institutional investors have recently made changes to their positions in AC. Quent Capital LLC bought a new position in shares of Associated Capital Group during the first quarter valued at approximately $222,000. OFI Invest Asset Management bought a new stake in Associated Capital Group during the 2nd quarter valued at $1,244,000. Renaissance Technologies LLC boosted its position in 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 acquiring an additional 800 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC increased its holdings in shares of 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 valued at $449,000 after acquiring an additional 298 shares during the period. Hedge funds and other 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.