Welcome to our dedicated page for Associated Capital Group news (Ticker: AC), a resource for investors and traders seeking the latest updates and insights on Associated Capital Group stock.
Associated Capital Group, Inc. (NYSE: AC) is a distinguished global financial services company headquartered in Greenwich, Connecticut. Founded in 1976, the company specializes in providing alternative investment management and underwriting services, asset management, and institutional research services. Through its subsidiary, Gabelli & Company Investment Advisers, Inc. (GCIA), formerly Gabelli Securities, Inc., Associated Capital offers a broad spectrum of investment services, including institutional research aimed at hedge funds, asset managers, affiliated mutual funds, and managed accounts.
Associated Capital Group operates multiple business lines including Gabelli Private Equity Partners, LLC (GPEP) and Gabelli Principal Strategies Group, LLC (GPS). GPEP, established in August 2017 with $150 million in authorized capital, is a 'fund-less' sponsor focused on private equity investments. GPS, launched in December 2015, pursues strategic operational initiatives aimed at optimizing business growth and development.
The firm's alternative investment strategy centers on merger arbitrage, a methodology focused on generating returns that are not correlated with general market movements. This strategy is offered through various structures including partnerships and offshore corporations serving both accredited and institutional investors. Notably, Gabelli Merger Plus+ Trust Plc, listed on the London Stock Exchange, also falls under this strategy.
Recent financial results indicate a robust performance, with assets under management (AUM) reaching $1.55 billion as of March 31, 2024. The company reported a book value per share of $42.80, up from $41.30 a year earlier. For the first quarter of 2024, Associated Capital recorded revenues of $3.0 million and a net income of $13.8 million.
Associated Capital is also well-known for its Shareholder Designated Charitable Contribution (SDCC) program, which has allowed shareholders to direct approximately $38 million to over 190 different charities since the company's inception as a public entity. This initiative underscores the firm’s commitment to corporate social responsibility.
In addition to its financial and investment services, Associated Capital is committed to leveraging its research and investment capabilities through acquisitions and alliances, broadening its product offerings, and adding new sources of distribution. The company also conducts direct investments in operating businesses, employing a variety of techniques and structures to achieve its strategic objectives.
For more detailed and up-to-date information, visit the official website or contact:
Douglas R. Jamieson, Chief Executive Officer
(203) 629-9595
info@associated-capital-group.com
Associated Capital Group (AC) reported Q3 2024 financial results with Assets Under Management (AUM) of $1.34 billion as of September 30, 2024, down from $1.59 billion in Q3 2023. The company posted total revenues of $2.4 million and net income of $23.2 million ($1.09 per share). Book value per share reached $42.02.
The company's merger arbitrage strategy generated gross returns of 4.88% in Q3. AC declared a special dividend of $2.00 per share and a semi-annual dividend of $0.10 per share. During Q3, the company repurchased 107,218 Class A shares for $3.4 million at an average price of $31.80 per share.
Associated Capital Group (NYSE:AC) has announced a preliminary range for its third quarter book value of $41.85 to $42.05 per share. This estimate excludes the $2 per share special dividend declared in September 2024, payable on November 4, 2024, to Class A and Class B shareholders of record on October 21, 2024. The current range compares to book values of:
- $42.87 at June 30, 2024
- $42.11 per share at December 31, 2023
- $41.43 per share at September 30, 2023
AC plans to release more detailed financial results in November.
Associated Capital Group (NYSE:AC) has announced a special cash dividend of $2.00 per share. The dividend will be payable on November 4, 2024, to Class A and Class B shareholders of record as of the close of business on October 21, 2024. Based on the current 21.2 million shares outstanding, the total payout is estimated to be approximately $42.4 million.
Since its inception as a public company in 2015, including this special dividend, AC has returned about $81.1 million to shareholders through dividends. This announcement demonstrates the company's commitment to providing value to its shareholders.
Associated Capital Group (NYSE: AC) has announced the registration date for its 2024 Shareholder Designated Charitable Contribution (SDCC). Key points:
- Registration date: October 18, 2024
- SDCC amount: $0.20 per share
- Eligible shareholders: Registered Class A and Class B shareholders
- Total estimated contribution: $4.3 million
- Deadline for charity designation: December 6, 2024
Shareholders can designate 501(c)(3) charitable organizations to receive the contribution. Since becoming a public company, AC shareholders have donated approximately $42 million to over 190 charities.
Associated Capital Group (AC) reported its Q2 2024 financial results. Key highlights include:
- Assets Under Management (AUM) decreased to $1.36 billion from $1.55 billion in Q2 2023
- Book value per share increased to $42.87 from $41.41 year-over-year
- Total revenues rose to $2.6 million from $2.4 million in Q2 2023
- Net income decreased to $2.985 million ($0.14 per diluted share) from $3.371 million ($0.15 per diluted share) in Q2 2023
The company returned $4.4 million to shareholders through dividends and share repurchases in Q2. The Board approved a $0.20 per share Shareholder Designated Charitable Contribution (SDCC).
Associated Capital Group (AC) announced a preliminary second-quarter book value range of $42.75 to $42.95 per share as of June 30, 2024. This shows a slight decrease from $42.80 at March 31, 2024, but an increase from $42.11 at December 31, 2023, and $41.41 at June 30, 2023. Detailed financial results will be released in August.
Associated Capital Group, Inc. reported an increased first quarter book value with assets under management at $1.55 billion compared to $1.59 billion at the end of 2023. Book value per share ended the quarter at $42.80 per share, an increase from $42.11 at the end of 2023. The company's financial results for the first quarter of 2024 showed an operating loss before management fee, but positive investment and other non-operating income. Total revenues increased to $3.0 million from $2.5 million in the previous year. AC's alternative investment management strategy focuses on merger arbitrage, with a positive gross return of 1.33% in the first quarter of 2024. Global M&A activity saw a significant increase in the first quarter of 2024, with the US dominating deal making. AC plans to accelerate the use of capital through acquisitions and alliances, including launching a private equity business.
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