Associated Capital Group (NYSE:AC) Shares Gap Up to $33.65

Associated Capital Group, Inc. (NYSE:AC)’s share price gapped up before the market opened on Monday . The stock had previously closed at $33.65, but opened at $34.56. Associated Capital Group shares last traded at $34.56, with a volume of 188 shares traded.

Associated Capital Group Stock Performance

The business has a 50-day simple moving average of $32.94 and a two-hundred day simple moving average of $33.01. The company has a market capitalization of $738.33 million, a price-to-earnings ratio of 22.30 and a beta of 0.88.

Associated Capital Group (NYSE:AC) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.14 EPS for the quarter. The business 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 firm also recently declared 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 (DPR) is currently 12.90%.

Hedge Funds Weigh In On Associated Capital Group

Several hedge funds and other institutional investors have recently bought and sold shares of AC. Quent Capital LLC purchased a new position in Associated Capital Group during the first quarter worth $222,000. Renaissance Technologies LLC increased its position in Associated Capital Group by 3.3% during the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock worth $840,000 after buying an additional 800 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in Associated Capital Group during the second quarter worth $1,244,000. 8.14% of the stock is owned by institutional investors and hedge funds.

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.