Associated Capital Group (NYSE:AC) Sees Unusually-High Trading Volume – Here’s What Happened

Associated Capital Group, Inc. (NYSE:AC) shares saw unusually-strong trading volume on Thursday . Approximately 33,057 shares were traded during mid-day trading, an increase of 433% from the previous session’s volume of 6,205 shares.The stock last traded at $36.71 and had previously closed at $36.33.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Associated Capital Group from a “buy” rating to a “hold” rating in a report on Tuesday.

Associated Capital Group Price Performance

The company’s 50-day moving average price is $35.96 and its two-hundred day moving average price is $34.12. The company has a market capitalization of $779.12 million, a P/E ratio of 13.67 and a beta of 0.86.

Associated Capital Group Dividend Announcement

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

Institutional Investors Weigh In On Associated Capital Group

A number of hedge funds and other institutional investors have recently modified their holdings of AC. OFI Invest Asset Management bought a new position in Associated Capital Group during the 2nd quarter worth $1,244,000. Renaissance Technologies LLC increased its position in shares of 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 during the period. Geode Capital Management LLC raised its stake in Associated Capital Group by 28.4% in the third quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock valued at $776,000 after purchasing an additional 4,841 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in 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. Finally, Quent Capital LLC acquired a new stake in Associated Capital Group during the third quarter worth about $240,000. 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.