Wed, Mar 19, 9:14 PM (39 days ago)
**Associated Capital Group, Inc. (AC) - Financial Summary (2024)** **Company Overview:** Associated Capital Group, Inc. (NYSE: AC) provides alternative investment management services and operates a direct investment business. The company's revenues are primarily based on assets under management (AUM). **Financial Performance (2024 vs. 2023):** - **Revenue:** $13.2 million (2024) vs. $12.7 million (2023) - **Net Income:** $44.3 million (2024) vs. $37.5 million (2023) - **Earnings per Share (EPS):** $2.08 (2024) vs. $1.72 (2023) - **AUM:** $1.25 billion (2024) vs. $1.59 billion (2023) **Key Financial Metrics:** - **Book Value per Share:** $42.14 (2024) - **Cash and Investments:** $864.1 million (2024) - **Total Equity:** $892.7 million (2024) **Operating Results:** - **Revenues:** Increased by $0.5 million due to higher advisory and incentive fees. - **Expenses:** Compensation increased to $18.3 million (2024) from $17.2 million (2023). - **Net Gain from Investments:** $42.8 million (2024) vs. $43.0 million (2023). - **Interest and Dividend Income:** Increased to $32.5 million (2024) from $25.3 million (2023). **Market Position and Strategy:** - **AUM Decrease:** $343 million decrease due to net investor outflows and currency fluctuations. - **Investment Strategy:** Focus on global growth, leveraging asset management strengths, and expanding product offerings. - **Risk Factors:** Market volatility, regulatory changes, and economic conditions. **Future Outlook:** - **Growth Strategy:** Expanding investment partnerships, pursuing acquisitions, and leveraging research capabilities. - **Market Position:** Competitive in the alternative asset management industry, focusing on long-term performance and client service. **Risk Factors:** - **Market Risks:** Volatility in short-term returns due to geo-political dynamics. - **Regulatory Risks:** Increased scrutiny and potential new legislation affecting private pools of capital. - **Operational Risks:** Dependence on technology and potential cybersecurity threats. **Financial Condition:** - **Liquidity:** Sufficient liquid assets to meet cash requirements and strategic objectives. - **Capital Resources:** Flexibility to pursue acquisitions, seeding new strategies, and shareholder compensation. **Market Position Changes:** - **Stock Performance:** Shares traded on the NYSE under the symbol AC. - **Shareholder Matters:** Stock repurchase program and dividend payments. **Conclusion:** Associated Capital Group, Inc. demonstrated resilience in 2024, despite challenges in AUM and market conditions. The company's strategic focus on growth and risk management positions it for future success in the competitive investment management landscape.