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Associated Capital Group, Inc. - AC STOCK NEWS

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

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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.

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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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Associated Capital Group, Inc. (AC) reports a preliminary first-quarter book value range of $42.67 to $42.87 per share, showing growth from previous quarters. Further financial details will be released in May.
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Associated Capital Group, Inc. reported a decline in assets under management (AUM) and a decrease in revenues for the fourth quarter and full year-ended December 31, 2023. The company completed $4.0 million of donations to charitable organizations in January 2024, bringing the total giving to $38 million since its spin-off in 2015. The Board of Directors authorized the repurchase of up to an additional 350,000 shares. The company has returned $172.4 million to shareholders through share repurchases and exchange offers, and paid dividends of $36.4 million since its spin-off.
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Associated Capital Group, Inc. (AC) announced a preliminary range for its fourth quarter book value of $41.91 to $42.11 per share, compared to $41.43 per share at September 30, 2023 and $40.48 per share at December 31, 2022. AC will release further financial details in February.
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AC - Associated Capital Group, Inc. reports Q3 2023 financial results with AUM at $1.59 billion, book value per share at $41.43, and $38 million in charitable contributions. The company's alternative investment management strategy, merger arbitrage performance, and plans for acquisitions and shareholder dividends are also highlighted.
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Associated Capital Group, Inc. (NYSE: AC) announced Ian McAdams as the new Chief Financial Officer. With a background in Banking and Capital Markets, McAdams is set to contribute to the company's growth plans.
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Associated Capital Group, Inc. announces preliminary Q3 book value range and decrease in assets under management.
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Associated Capital Group, Inc. sets October 15, 2023 as the record date for its 2023 Shareholder Designated Charitable Contribution (SDCC), offering $0.20 per share to registered Class A and Class B shareholders. AC's total contribution will be approximately $4.3 million based on the 21.7 million shares currently outstanding. Shareholders can register shares directly with Computershare, AC's transfer agent, and designate a 501(c)(3) charitable organization to receive the SDCC. AC has donated approximately $38 million to over 190 different charities through the SDCC since its inception as a public company.
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FAQ

What services does Associated Capital Group, Inc. offer?

Associated Capital Group provides alternative investment management, underwriting services, asset management, and institutional research services.

What is the Shareholder Designated Charitable Contribution (SDCC) program?

The SDCC program allows shareholders to direct charitable contributions, which have totaled approximately $38 million to over 190 organizations since the company's inception as a public entity.

What are some of the subsidiary companies under Associated Capital Group?

Subsidiaries include Gabelli & Company Investment Advisers, Inc. (GCIA), Gabelli Private Equity Partners, LLC (GPEP), and Gabelli Principal Strategies Group, LLC (GPS).

What is the company's focus in alternative investment strategies?

Associated Capital focuses on merger arbitrage, a strategy designed to generate returns independent of the broader equity and fixed income markets.

Where is Associated Capital Group headquartered?

The company is headquartered in Greenwich, Connecticut.

What was the company's financial performance in the first quarter of 2024?

In the first quarter of 2024, Associated Capital reported revenues of $3.0 million and net income of $13.8 million, with AUM of $1.55 billion.

Who can invest in the merger arbitrage strategies offered by Associated Capital?

The merger arbitrage strategies are available to both accredited and institutional investors through various investment structures.

What is the book value per share as of the latest quarter?

The book value per share was $42.80 as of March 31, 2024.

What initiatives does the company have for direct investments?

Associated Capital invests in new and existing businesses through Gabelli Private Equity Partners, LLC (GPEP) and Gabelli Principal Strategies Group, LLC (GPS), employing various techniques and structures.

How can I contact the company's management for more information?

You can contact Douglas R. Jamieson, Chief Executive Officer, at (203) 629-9595 or via email at info@associated-capital-group.com.

Associated Capital Group, Inc.

NYSE:AC

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