Welcome to our dedicated page for Associated Cap Group news (Ticker: AC), a resource for investors and traders seeking the latest updates and insights on Associated Cap Group stock.
Associated Capital Group Inc. reports developments tied to its diversified global financial services business, including alternative investment management through Gabelli & Company Investment Advisers and proprietary capital allocated to direct investments. Recurring updates cover book value per share, assets under management, operating results, merger arbitrage strategy performance, shareholder capital actions, and direct investment initiatives through Gabelli Private Equity Partners and Gabelli Principal Strategies Group.
Company news also includes corporate-status and governance matters, including the completed transition of its Class A common stock from NYSE listing to OTCQX trading and related deregistration actions.
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.
Associated Capital Group, Inc. (AC) reported Q4 and full-year 2020 financial results, showcasing a net income of $51.1 million for Q4, significantly up from $11.0 million in Q4 2019. However, full-year net income fell to $18.8 million from $39.2 million the previous year. Assets under management declined to $1.35 billion, down from $1.72 billion in 2019, due to $450 million in redemptions. The company experienced operating losses of $12.5 million for the year but reported substantial non-operating income of $42.4 million. The book value per share rose to $40.36, reflecting a positive trend despite declines in revenues.
Associated Capital Group (AC) has released preliminary financial estimates for Q4 and the fiscal year ending December 31, 2020. The diluted EPS for Q4 is projected between $2.15 and $2.35, up from $0.48 in Q4 2019. For the full year, EPS is expected to be between $0.70 and $0.90, down from $1.74 in 2019. As of the end of 2020, AC's estimated book value is $40.15 to $40.45 per share, an increase from $39.88 a year earlier. Assets under management stand at $1.35 billion. Additional financial results will be disclosed in early February.
Associated Capital Group (NYSE:AC) has appointed Timothy H. Schott as Executive Vice President – Finance & Chief Financial Officer. Schott, a seasoned finance professional with three decades of experience, previously held significant roles at Deloitte & Touche and Lazard. His expertise includes financial reporting and tax compliance, which will enhance the firm's management team. President Doug Jamieson expressed confidence that Schott's joining aligns with the company's growth strategy.
Associated Capital Group (AC) reported its Q3 2020 financial results, with net income per share stable at $0.26 compared to Q3 2019. Book value per share adjusted after the Morgan Group spinoff is $38.25. Despite a significant investment portfolio gain of $15.6 million, assets under management dropped to $1.25 billion, down from $1.65 billion a year prior due to client redemptions. The company announced a charitable contribution of $4.5 million, maintaining its shareholder-designated charitable contribution program. A semi-annual dividend of $0.10 per share is declared, payable December 15, 2020.
Associated Capital Group (AC) reported its preliminary book value for Q3 at $38.15 to $38.35 per share, slightly up from $38.13 as of June 30, 2020, but down from $39.93 at year-end 2019. Assets under management fell to $1.25 billion compared to $1.65 billion in the same period last year. Further financial results will be disclosed in early November, highlighting the ongoing challenges within the investment landscape.