---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-003656"
form_type: "8-K"
ticker: "ACGP"
cik: "0001642122"
company_name: "Associated Capital Group, Inc."
filed_at: "2024-02-09T23:59:59+00:00"
generated_at: "2026-06-06T04:51:34.098659+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Associated Capital Q4 net income $16.3M ($0.76 EPS); book value $42.11; additional 350K share buyback authorized

## Summary
- Full year 2023 net income $37.5M ($1.72 diluted EPS) vs loss of $48.9M ($2.22 loss) in 2022; revenue down 17% to $12.7M.
- Book value $42.11 per share (+4% YoY); AUM $1.59B, down 13.6% from $1.84B, reflecting $325M net outflows.
- Board authorized repurchase of up to 350K additional shares; YTD repurchased 452,688 Class A shares for $16.3M.
- Merger arbitrage strategy net return 3.56% in 2023; positive net returns in 37 of last 39 years.
- Semi-annual dividend $0.10 per share paid Dec 14; total shareholder returns of $208.8M since 2015 spin-off.

## SEC filing metadata
- accession: 0001437749-24-003656
- form_type: 8-K
- ticker: ACGP
- cik: 0001642122
- company_name: Associated Capital Group, Inc.
- filed_at: 2024-02-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1642122/000143774924003656/0001437749-24-003656-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1642122/000143774924003656/ac20231113c_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-003656
- JSON: https://secwatch.observer/filing/0001437749-24-003656.json
- Plain text: https://secwatch.observer/filing/0001437749-24-003656.txt

## Key facts
- Earnings Releases
  Associated Capital Group, Inc. reported Fourth quarter 2023 results: revenue $5.6 million, net income $16.3 million, EPS $0.76 per share.
  - Period: Fourth quarter 2023
  - Revenue: $5.6 million
  - Net income: $16.3 million
  - EPS: $0.76 per share
  - Result: reported results
  source text: , book value was $ 42.11 per share versus $41.43 per share at September 30, 2023 and $40.48 per share at December 31, 2022. Fourth Quarter Results Fourth quarter revenues were $5.6 million compared to $7.5 million for the fourth quarter of 2022, based on lower average AUM and lower performance-based fees in 2023. Total operating expenses, excluding management fee,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1642122/000143774924003656/0001437749-24-003656-index.htm
- Earnings Releases
  Associated Capital Group, Inc. reported Full year 2023 results: revenue $12.7 million, net income $37.5 million, EPS $1.72 per share.
  - Period: Full year 2023
  - Revenue: $12.7 million
  - Net income: $37.5 million
  - EPS: $1.72 per share
  - Result: reported results
  source text: provision for income taxes was $5.6 million for the quarter compared to $2.9 million in the comparable period of 2022. Full Year Results Revenues for the year-ended 2023 were $12.7 million compared to $15.2 million in 2022, based on lower average AUM and lower performance-based fees in 2023. For 2023, the operating loss before Management fee was $11.5 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1642122/000143774924003656/0001437749-24-003656-index.htm

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