---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-014220"
form_type: "8-K"
ticker: "ACGP"
cik: "0001642122"
company_name: "Associated Capital Group, Inc."
filed_at: "2023-05-12T23:59:59+00:00"
generated_at: "2026-06-15T02:36:15.759330+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Associated Capital reports Q1 net income of $0.81/diluted share; book value per share $41.30

## Summary
- Net income $17.8M ($0.81 diluted EPS) vs loss of $16.2M ($0.73 loss) in Q1 2022.
- Revenue $2.5M roughly flat YoY; operating loss before mgmt fee improved to ($2.6M) from ($3.3M).
- AUM $1.80B at March 31, 2023, down from $1.84B at year-end 2022 due to net outflows of $55M.
- Book value per share $41.30, up from $40.48 at Dec 31, 2022 but down from $41.72 a year ago.
- Board declared semi-annual dividend $0.10/share, payable June 29, 2023; repurchased 52,307 Class A shares for $1.9M.

## SEC filing metadata
- accession: 0001437749-23-014220
- form_type: 8-K
- ticker: ACGP
- cik: 0001642122
- company_name: Associated Capital Group, Inc.
- filed_at: 2023-05-12T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1642122/000143774923014220/0001437749-23-014220-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1642122/000143774923014220/ac20230316_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-014220
- JSON: https://secwatch.observer/filing/0001437749-23-014220.json
- Plain text: https://secwatch.observer/filing/0001437749-23-014220.txt

## Key facts
- Earnings Releases
  Associated Capital Group, Inc. reported the first quarter ended March 31, 2023 results: revenue $2.5 million, net income 17,754, EPS 0.81.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $2.5 million
  - Net income: 17,754
  - EPS: 0.81
  - Result: reported results
  source text: swing in AC's investments, other than investments in the merger arbitrage funds, reflects market decline in Q1 2022. 1 First Quarter Results First quarter revenues were $ 2.5 million, roughly the same as revenues in the first quarter of 2022 . Total operating expenses, excluding management fee expense, were $ 5.1 million compared to $ 5.9 million in the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1642122/000143774923014220/0001437749-23-014220-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.