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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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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

AC Rankings

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703.04M
2.46M
2.14%
69.43%
0.15%
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United States of America
GREENWICH