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, Inc. (AC) reported preliminary book value for Q1 at
GAMCO Investors, Inc. (NYSE:GBL) has appointed Douglas R. Jamieson to its Board of Directors. With over 40 years at GAMCO, Jamieson has held key roles including Executive Vice President and Chief Operating Officer of GAMCO Asset Management and President and CEO of Associated Capital Group since its spinoff in 2015. GAMCO Investors is renowned for its research-driven equity investing and manages various investment strategies through subsidiaries, serving a diverse client base including institutions and individual investors.
Associated Capital Group reported strong financial results for 2021, with a record book value of $42.48 per share and AUM reaching $1.78 billion. The company achieved a full-year diluted EPS of $2.68, up from $0.84 in 2020, driven by record net inflows of $356 million and market appreciation of $74 million. However, operating losses before management fees increased to $10.7 million. The Board declared a semi-annual dividend of $0.10 per share, supporting its commitment to return value to shareholders.
Associated Capital Group (NYSE:AC) reported its preliminary financial results for the fourth quarter and the year ending December 31, 2021. The estimated book value per share increased to between
The Board of Associated Capital Group (NYSE: AC) has approved a $0.30 per share Shareholder Designated Charitable Contribution (SDCC) for registered Class A and Class B shareholders. To qualify, shareholders must register shares by December 1, 2021. This initiative will allow approximately $6.6 million to be donated to eligible 501(c)(3) organizations, totaling around $32 million contributed to over 160 charities since the company's inception. This reflects AC’s commitment to charitable giving as a core company value.
Associated Capital Group reported financial results for Q3 2021, showcasing a significant increase in Assets Under Management (AUM) of $1.68 billion, up from $1.25 billion a year prior. Book value per share rose to $42.24 compared to $38.25 in 2020. Q3 revenues reached $2.1 million, a slight increase from $1.9 million in Q3 2020. Despite a net income of $1.5 million, operating losses were reported at $169,000. A dividend of $0.10 per share was declared, with a notable charitable contribution of $6.6 million approved for 501(c)(3) organizations.
Associated Capital Group, Inc. (AC) announced preliminary third-quarter book value ranging from
Associated Capital Group reported its Q2 2021 results, revealing a net income of $29.7 million, down from $35.2 million in Q2 2020, with earnings per share at $1.34 compared to $1.57 the previous year. The company’s assets under management (AUM) reached $1.61 billion, up from $1.31 billion year-over-year. Despite an operating loss of $10.4 million, non-operating income was strong at $48.6 million. The book value per share increased to $42.21. Additionally, investment strategies showed positive returns, with merger arbitrage generating gross returns of 3.5% for Q2.
Associated Capital Group (AC) reported a second quarter preliminary book value increase to $42.10 to $42.30 per share, up from $41.22 on March 31, 2021. This marks a notable rise from $40.36 on December 31, 2020, and $38.09 on June 30, 2020. Additionally, assets under management reached $1.611 billion by June 30, 2021, compared to $1.305 billion a year earlier. The company intends to disclose further financial details in early August.
Associated Capital Group, Inc. (AC) highlights the Gabelli Value Plus+ Trust's (GVP) strong performance since opting against liquidation in July 2020. The Trust has achieved significant returns, with NAV of £1.75 and $2.46 as of 9/6/2021. The AC Board agreed to abstain from voting on the Trust’s continuation, recommending shareholders consider its future at the upcoming AGM. With the U.S. economic recovery, AC believes GVP is positioned for attractive risk-adjusted returns moving forward.
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