Associated Capital Group (NYSE:AC) Sees Strong Trading Volume – Should You Buy?

Associated Capital Group, Inc. (NYSE:AC) shares saw an uptick in trading volume on Wednesday . 831 shares were traded during mid-day trading, a decline of 50% from the previous session’s volume of 1,666 shares.The stock last traded at $34.81 and had previously closed at $35.35.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Associated Capital Group from a “buy” rating to a “hold” rating in a research report on Friday, December 13th.

Associated Capital Group Stock Down 0.6 %

The company has a market cap of $746.27 million, a P/E ratio of 13.36 and a beta of 0.87. The firm’s 50 day moving average is $35.94 and its two-hundred day moving average is $34.57.

Associated Capital Group Announces Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a dividend yield of 0.6%. Associated Capital Group’s payout ratio is 7.60%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AC. Renaissance Technologies LLC increased its holdings 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 purchasing an additional 800 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in Associated Capital Group by 2.4% in the third quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 298 shares in the last quarter. Quent Capital LLC bought a new stake in Associated Capital Group in the third quarter valued at $240,000. JPMorgan Chase & Co. raised its holdings in shares of Associated Capital Group by 11,616.7% during the third quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 697 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Associated Capital Group by 28.4% during the 3rd quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock worth $776,000 after purchasing an additional 4,841 shares in the last quarter. 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.