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

Shares of Associated Capital Group, Inc. (NYSE:AC) saw unusually-strong trading volume on Wednesday . Approximately 831 shares changed hands during 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 lowered Associated Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, December 13th.

Associated Capital Group Trading Down 2.4 %

The stock has a market capitalization of $729.28 million, a P/E ratio of 13.06 and a beta of 0.87. The stock has a 50 day moving average of $35.91 and a 200-day moving average of $34.58.

Associated Capital Group Announces Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a dividend of $0.10 per share. This represents a yield of 0.6%. The ex-dividend date of this dividend was Thursday, December 5th. Associated Capital Group’s dividend payout ratio (DPR) is presently 7.60%.

Institutional Investors Weigh In On Associated Capital Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Dynamic Advisor Solutions LLC raised its position 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 worth $449,000 after acquiring an additional 298 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Associated Capital Group by 11,616.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 697 shares in the last quarter. Renaissance Technologies LLC raised 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 acquiring an additional 800 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Associated Capital Group by 28.4% in the 3rd quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock worth $776,000 after acquiring an additional 4,841 shares in the last quarter. Finally, Quent Capital LLC bought a new position in shares of Associated Capital Group in the 3rd quarter worth $240,000. 8.14% of the stock is owned by institutional investors.

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.