Associated Capital Group (NYSE:AC) Shares Gap Up - Here's Why

Associated Capital Group, Inc. (NYSE:AC - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $37.96, but opened at $40.61. Associated Capital Group shares last traded at $37.06, with a volume of 1,357 shares.

Associated Capital Group Trading Up 1.9 %

The stock's 50 day moving average price is $33.86 and its 200 day moving average price is $33.31. The company has a market capitalization of $827.58 million, a price-to-earnings ratio of 25.11 and a beta of 0.88.

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

Associated Capital Group Increases Dividend

The company also recently announced a None dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 21st will be issued a $2.00 dividend. This is a boost 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 presently 12.90%.

Institutional Investors Weigh In On Associated Capital Group

Institutional investors and hedge funds have recently modified their holdings of the company. Quent Capital LLC bought a new position in Associated Capital Group in the 1st quarter valued at about $222,000. Dynamic Advisor Solutions LLC raised its holdings in 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. Renaissance Technologies LLC raised 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 acquiring an additional 800 shares during the period. Finally, OFI Invest Asset Management bought a new position in Associated Capital Group in the 2nd quarter valued at about $1,244,000. 8.14% of the stock is owned by institutional investors.

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.