Associated Capital Group (NYSE:AC) Sees Large Volume Increase - Still a Buy?

Shares of Associated Capital Group, Inc. (NYSE:AC - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 3,663 shares changed hands during mid-day trading, a decline of 41% from the previous session's volume of 6,182 shares.The stock last traded at $35.70 and had previously closed at $36.40.

Associated Capital Group Price Performance

The firm's 50-day simple moving average is $34.51 and its 200 day simple moving average is $33.57. The firm has a market capitalization of $747.11 million, a price-to-earnings ratio of 22.64 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 EPS for the quarter. The company had revenue of $2.60 million during 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 business also recently declared a None dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 21st will be issued a dividend of $2.00 per share. The ex-dividend date is Monday, October 21st. This is a positive change from Associated Capital Group's previous None dividend of $0.10. Associated Capital Group's payout ratio is 12.90%.

Hedge Funds Weigh In On Associated Capital Group

Large investors have recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in Associated Capital Group during the 2nd quarter worth about $1,244,000. Quent Capital LLC bought a new position in Associated Capital Group during the 1st quarter worth approximately $222,000. Renaissance Technologies LLC lifted its position in shares of 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 worth $840,000 after purchasing an additional 800 shares during the period. Finally, Dynamic Advisor Solutions LLC increased 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 buying an additional 298 shares during the period. 8.14% of the stock is currently 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.