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Associated Capital Group

DB:41J
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
41J
DB
$609M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Associated Capital Group, Inc. provides investment advisory and asset management services in the United States. The last earnings update was 17 days ago. More info.


Add to Portfolio Compare Print
  • Associated Capital Group has significant price volatility in the past 3 months.
41J Share Price and Events
7 Day Returns
-15.4%
DB:41J
-6.8%
DE Capital Markets
-2.7%
DE Market
1 Year Returns
-
DB:41J
-11.8%
DE Capital Markets
-20.4%
DE Market
41J Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Associated Capital Group (41J) -15.4% -37% - - - -
DE Capital Markets -6.8% -21.9% -18% -11.8% -29% -57.8%
DE Market -2.7% -18.4% -26.7% -20.4% -25.9% -30.4%
1 Year Return vs Industry and Market
  • No trading data on 41J.
  • No trading data on 41J.
Price Volatility
41J
Industry
5yr Volatility vs Market

Value

 Is Associated Capital Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Associated Capital Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Associated Capital Group.

DB:41J Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $38.84 * -0.1%
$-0.04
Book Value of Equity per Share Median Book Value from the past 5 years. $38.84
Discount Rate (Cost of Equity) See below 4.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:41J
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.747 (1 + (1- 21%) (0%))
0.83
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.83 * 5.44%)
4.13%

Discounted Cash Flow Calculation for DB:41J using Excess Returns Model Model

The calculations below outline how an intrinsic value for Associated Capital Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:41J Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (-0.1% – 4.13%) * $38.84)
$-1.64
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-1.64 / (4.13% - -0.39%)
$-36.39
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $38.84 + $-36.39
$2.45
DB:41J Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:41J represents 0.8594x of NYSE:AC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.8594x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 2.45 x 0.8594
€2.11
Value per share (EUR) From above. €2.11
Current discount Discount to share price of €23.35
= -1 x (€23.35 - €2.11) / €2.11
-1008.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Associated Capital Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Associated Capital Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Associated Capital Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:41J PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $1.74
NYSE:AC Share Price ** NYSE (2020-04-02) in USD $27.17
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 22.18x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Associated Capital Group.

DB:41J PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:AC Share Price ÷ EPS (both in USD)

= 27.17 ÷ 1.74

15.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Associated Capital Group is good value based on earnings compared to the DE Capital Markets industry average.
  • Associated Capital Group is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Associated Capital Group's expected growth come at a high price?
Raw Data
DB:41J PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Associated Capital Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Associated Capital Group's assets?
Raw Data
DB:41J PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $39.88
NYSE:AC Share Price * NYSE (2020-04-02) in USD $27.17
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:41J PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:AC Share Price ÷ Book Value per Share (both in USD)

= 27.17 ÷ 39.88

0.68x

* Primary Listing of Associated Capital Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Associated Capital Group is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Associated Capital Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Associated Capital Group has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Associated Capital Group expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Associated Capital Group has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
40%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Associated Capital Group expected to grow at an attractive rate?
  • Unable to compare Associated Capital Group's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Associated Capital Group's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare Associated Capital Group's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:41J Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 40%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:41J Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:41J Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 31 -44 39
2019-09-30 23 28 -12
2019-06-30 23 92 -25
2019-03-31 23 94 -13
2018-12-31 23 77 -58
2018-09-30 26 57 -2
2018-06-30 26 -121 7
2018-03-31 27 -83 0
2017-12-31 27 -68 9
2017-09-30 32 -172 -3
2017-06-30 32 16 -1
2017-03-31 32 -8 -4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Associated Capital Group is high growth as no earnings estimate data is available.
  • Unable to determine if Associated Capital Group is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:41J Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Associated Capital Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:41J Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 1.74
2019-09-30 -0.54
2019-06-30 -1.12
2019-03-31 -0.56
2018-12-31 -2.52
2018-09-30 -0.09
2018-06-30 0.29
2018-03-31 -0.01
2017-12-31 0.37
2017-09-30 -0.14
2017-06-30 -0.04
2017-03-31 -0.18

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Associated Capital Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Associated Capital Group is trading at Associated Capital Group'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Associated Capital Group's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Diversified Financials companies here
  3. Associated Capital Group's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Associated Capital Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Associated Capital Group has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Associated Capital Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Associated Capital Group's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Associated Capital Group's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Associated Capital Group has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Associated Capital Group has become profitable in the last year making it difficult to compare the DE Capital Markets industry average.
Earnings and Revenue History
Associated Capital Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Associated Capital Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:41J Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 31.27 39.19 5.71
2019-09-30 23.21 -12.15 0.59
2019-06-30 22.75 -25.48 0.63
2019-03-31 22.73 -12.72 3.26
2018-12-31 22.78 -58.10
2018-09-30 25.75 -1.98 1.07
2018-06-30 26.33 6.91 -2.58
2018-03-31 26.63 -0.31 0.27
2017-12-31 26.92 8.84 0.71
2017-09-30 31.63 -3.32 0.98
2017-06-30 31.83 -0.88 5.71
2017-03-31 31.70 -4.45 3.58
2016-12-31 31.23 10.22 4.06
2016-09-30 23.93 10.76 6.69
2016-06-30 23.17 -0.74 4.57
2016-03-31 22.79 -0.90 4.52
2015-12-31 22.84 -0.11 4.62
2015-09-30 21.53 -1.95 1.80
2015-06-30 21.73 1.80 1.98
2015-03-31 21.69 4.96 2.41
2014-12-31 21.03 3.00 1.88
2013-12-31 20.42 26.77 5.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Associated Capital Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Associated Capital Group used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • It is difficult to establish if Associated Capital Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Associated Capital Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Associated Capital Group has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Associated Capital Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Associated Capital Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Associated Capital Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Associated Capital Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Associated Capital Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Associated Capital Group has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Associated Capital Group Company Filings, last reported 3 months ago.

DB:41J Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 947.82 0.00 377.63
2019-09-30 938.50 0.00 350.93
2019-06-30 933.86 0.00 361.56
2019-03-31 939.79 0.00 396.02
2018-12-31 916.05 0.00 421.27
2018-09-30 974.94 0.00 348.89
2018-06-30 963.24 0.00 273.77
2018-03-31 938.40 0.00 283.97
2017-12-31 964.38 0.00 655.71
2017-09-30 940.33 0.00 582.28
2017-06-30 891.01 0.00 540.42
2017-03-31 885.88 0.00 545.51
2016-12-31 878.25 0.00 566.04
2016-09-30 902.07 0.00 553.19
2016-06-30 758.91 0.00 430.24
2016-03-31 769.44 0.00 430.71
2015-12-31 758.42 0.00 445.00
2015-09-30 636.83 0.00 496.52
2015-06-30 660.32 0.00 511.77
2015-03-31 631.03 0.00 479.79
2014-12-31 652.56 16.00 504.76
2013-12-31 503.48 0.00 386.04
  • Associated Capital Group has no debt.
  • Associated Capital Group has no debt compared to 5 years ago when it was 2.4%.
  • Associated Capital Group has no debt, it does not need to be covered by operating cash flow.
  • Associated Capital Group has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Associated Capital Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Associated Capital Group has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Associated Capital Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.74%
Current annual income from Associated Capital Group dividends.
If you bought €2,000 of Associated Capital Group shares you are expected to receive €15 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Associated Capital Group's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • Associated Capital Group's dividend is below the markets top 25% of dividend payers in Germany (4.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:41J Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:41J Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-11-11 0.200 0.526
2019-08-09 0.200 0.543
2019-03-08 0.200 0.517
2018-11-07 0.200 0.498
2018-05-08 0.200 0.514
2018-03-09 0.200 0.545
2018-02-21 0.200 0.560
2017-11-07 0.200 0.578
2017-08-04 0.200 0.566
2017-08-03 0.200 0.600
2017-05-03 0.200 0.592
2017-05-02 0.200 0.593
2016-11-09 0.200 0.568
2016-11-04 0.200 0.595
2016-08-05 0.200 0.600
2016-05-13 0.200 0.674
2016-03-24 0.200 0.674
2016-02-18 0.100 0.359

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Associated Capital Group is not paying a notable dividend for Germany, therefore no need to check if the payments are stable.
  • Associated Capital Group is not paying a notable dividend for Germany, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Associated Capital Group's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Associated Capital Group's dividends as it is not paying a notable one for Germany.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Associated Capital Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Associated Capital Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Associated Capital Group has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Associated Capital Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Doug Jamieson
COMPENSATION $1,630,520
AGE 65
TENURE AS CEO 3.4 years
CEO Bio

Mr. Douglas Richard Jamieson, also known as Doug, serves as a President, Chief Executive Officer and Director at Gabelli & Company Investment Advisers, Inc.. Mr. Douglas Richard Jamieson has been the Chief Executive Officer and President at Associated Capital Group, Inc. since November 10, 2016. Mr. Jamieson serves as the President and Director of Gabelli Securities, Inc. and an Executive Vice President at Gabelli Multimedia Partners, L.P. He joined GAMCO in 1981. He serves as the President and Director of GAMCO Asset Management (UK) Ltd. He has been the President at GAMCO Asset Management, Inc. since 2004 and as its Chief Operating Officer and Managing Director and Director since 1991 and was previously Executive Vice President from 1986 to 2004 and Investment Analyst from 1981 to 1986. He served as the President and Chief Operating Officer at GAMCO Investors, Inc. from August 23, 2004 to November 10, 2016. Previously, he was a Securities Analyst at Gabelli & Company, Inc. from 1981 to 1986. Mr. Jamieson serves as Executive Director of Gabelli Value For Italy S.P.A. He has been a Director of Associated Capital Group, Inc. since May 3, 2017. He has been a Director of Gabelli Group Capital Partners, Inc. since December 2005 and a Director of GGCP, Inc. Previously, he served on the Board of Teton from 2005 to 2010 and as a Director of Teton Advisors, Inc. since 1998. Mr. Jamieson was an Advisor to the Board of GGCP till 2010 and was previously a Director from December 2005 to December 2009. He has earned an M.B.A. in Finance and Accounting from the Columbia Business School in 1982 and a B.A. from Bucknell University.

CEO Compensation
  • Doug's compensation has increased in line with Associated Capital Group recently becoming profitable.
  • Doug's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Associated Capital Group management team in years:

3.4
Average Tenure
62
Average Age
  • The tenure for the Associated Capital Group management team is about average.
Management Team

Mario Gabelli

TITLE
Executive Chairman of the Board
COMPENSATION
$406K
AGE
76

Doug Jamieson

TITLE
President
COMPENSATION
$2M
AGE
65
TENURE
3.4 yrs

Kevin Handwerker

TITLE
Executive VP
COMPENSATION
$458K
AGE
62
TENURE
4.3 yrs

Marc Gabelli

TITLE
Executive Director
COMPENSATION
$54K
AGE
51

Ken Masiello

TITLE
Chief Accounting Officer
TENURE
1.1 yrs

Agnes Mullady

TITLE
Executive Vice President
AGE
60
TENURE
3.4 yrs
Board of Directors Tenure

Average tenure and age of the Associated Capital Group board of directors in years:

3.7
Average Tenure
64
Average Age
  • The tenure for the Associated Capital Group board of directors is about average.
Board of Directors

Mario Gabelli

TITLE
Executive Chairman of the Board
COMPENSATION
$406K
AGE
76
TENURE
4.4 yrs

Doug Jamieson

TITLE
President
COMPENSATION
$2M
AGE
65
TENURE
2.9 yrs

Salvatore Sodano

TITLE
Independent Vice Chairman
COMPENSATION
$120K
AGE
63
TENURE
4.4 yrs

Marc Gabelli

TITLE
Executive Director
COMPENSATION
$54K
AGE
51
TENURE
1.9 yrs

Bruce Lisman

TITLE
Independent Director
COMPENSATION
$113K
AGE
72
TENURE
4.4 yrs

Dan Lee

TITLE
Independent Director
COMPENSATION
$85K
AGE
62

Fred Salerno

TITLE
Lead Independent Director
COMPENSATION
$85K
AGE
75

Elisa Wilson

TITLE
Director
AGE
46
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
24. Mar 20 Buy GGCP, Inc. Company 23. Mar 20 23. Mar 20 1,831 €24.21 €44,326
12. Mar 20 Buy GGCP, Inc. Company 12. Mar 20 12. Mar 20 1,671 €30.72 €51,336
17. Dec 19 Buy GGCP, Inc. Company 16. Dec 19 16. Dec 19 900 €32.24 €29,015
10. Dec 19 Buy GGCP, Inc. Company 10. Dec 19 10. Dec 19 1,794 €32.38 €58,084
09. Dec 19 Buy GGCP, Inc. Company 06. Dec 19 09. Dec 19 519 €32.62 €16,877
05. Dec 19 Buy GGCP, Inc. Company 04. Dec 19 04. Dec 19 2,264 €32.46 €73,487
02. Dec 19 Buy GGCP, Inc. Company 29. Nov 19 02. Dec 19 571 €32.56 €18,569
26. Nov 19 Buy GGCP, Inc. Company 26. Nov 19 26. Nov 19 12,998 €32.74 €425,618
25. Nov 19 Buy GGCP, Inc. Company 22. Nov 19 22. Nov 19 1,204 €32.42 €39,033
21. Nov 19 Buy GGCP, Inc. Company 21. Nov 19 21. Nov 19 859 €32.02 €27,506
19. Nov 19 Buy GGCP, Inc. Company 19. Nov 19 19. Nov 19 81 €32.19 €2,607
09. Sep 19 Buy GGCP, Inc. Company 06. Sep 19 06. Sep 19 28,000 €29.90 €837,203
05. Sep 19 Buy GGCP, Inc. Company 04. Sep 19 05. Sep 19 3,316 €31.55 €103,927
04. Sep 19 Buy GGCP, Inc. Company 03. Sep 19 03. Sep 19 2,125 €31.65 €67,247
26. Aug 19 Buy GGCP, Inc. Company 23. Aug 19 26. Aug 19 1,836 €30.90 €56,531
20. Aug 19 Buy GGCP, Inc. Company 19. Aug 19 19. Aug 19 195 €32.77 €6,391
27. Jun 19 Buy GGCP, Inc. Company 27. Jun 19 27. Jun 19 6,200 €30.72 €190,437
24. Jun 19 Buy GGCP, Inc. Company 21. Jun 19 24. Jun 19 3,031 €31.07 €94,093
20. Jun 19 Buy GGCP, Inc. Company 19. Jun 19 20. Jun 19 3,544 €31.80 €111,914
18. Jun 19 Buy GGCP, Inc. Company 18. Jun 19 18. Jun 19 642 €31.89 €20,471
19. Nov 19 Buy Mario Gabelli Individual 18. Nov 19 18. Nov 19 1,000 €31.97 €31,965
X
Management checks
We assess Associated Capital Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Associated Capital Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Associated Capital Group, Inc. provides investment advisory and asset management services in the United States. It offers alternative investment management, institutional research, and underwriting services. The company was founded in 2015 and is headquartered in Rye, New York.

Details
Name: Associated Capital Group, Inc.
41J
Exchange: DB
Founded: 2015
$557,166,306
22,423,918
Website: http://www.associated-capital-group.com
Address: Associated Capital Group, Inc.
One Corporate Center,
Rye,
New York, 10580,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE AC Class A Common Shares New York Stock Exchange US USD 10. Nov 2015
DB 41J Class A Common Shares Deutsche Boerse AG DE EUR 10. Nov 2015
Number of employees
Current staff
Staff numbers
39
Associated Capital Group employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/02 23:12
End of day share price update: 2020/04/02 00:00
Last earnings filing: 2020/03/16
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.