Associated Cap Group Inc Stock Price, News & Analysis

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 $42.15 to $42.35 per share, slightly up from $42.21 at June 30, 2021. The book value reflects a significant increase from $40.36 at December 31, 2020, and $38.25 at September 30, 2020. Additionally, assets under management reached $1.680 billion as of September 30, 2021, compared to $1.251 billion a year prior. The company will provide more detailed financial results in early November.

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.

Associated Capital Group reported its Q1 2021 results, showing total Assets Under Management (AUM) of $1,495 million, up from $1,473 million in Q1 2020. Revenue decreased to $2,325 million compared to $2,962 million the previous year. The company recorded an operating loss of $6,365 million, significantly worse than the $640 million loss in Q1 2020. However, non-operating income turned positive at $30,681 million, contrasting sharply with the $(100,091 million) loss in the same quarter last year.

Associated Capital Group (“AC”) reported preliminary first-quarter book value between $41.10 and $41.30 per share, up from $40.36 at the end of 2020 and $36.61 a year prior. The increase is attributed to changes in mark-to-market values. Additionally, assets under management reached $1.495 billion, compared to $1.473 billion in March 2020. The company plans to release detailed financial results in early May 2021.

Associated Capital Group (NYSE:AC) has announced the appointment of Peter D. Goldstein as Chief Legal Officer and David M. Goldman as General Counsel and Director of Corporate Development, effective April 16, 2021. This leadership change follows the retirement of Kevin Handwerker, who served as General Counsel for six years. Goldstein brings extensive legal experience from GAMCO Investors and the SEC, while Goldman has been with GAMCO since 2011, previously serving at Deutsche Asset Management. Associated Capital focuses on alternative investment management and direct investment strategies.