General American Investors, Inc. (GAM) to Distribute Annual Dividend of $7.43 on December 30th

General American Investors, Inc. (NYSE:GAM) announced an annual dividend on Wednesday, November 4th. Stockholders of record on Monday, November 16th will be paid a dividend of $7.43 per share by the investment management company on Wednesday, December 30th. This represents a dividend yield of 1,149.0%. The ex-dividend date is Monday, November 16th. This is a 16.1% increase from General American Investors’s previous annual dividend of $6.40.

General American Investors Trading Down 4.0%

Shares of NYSE GAM opened at $62.13 on Friday. The company’s 50-day simple moving average is $64.80 and its 200-day simple moving average is $63.48. General American Investors has a 52-week low of $56.24 and a 52-week high of $68.57.

Insider Buying and Selling

In other news, insider Craig Grassi acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were bought at an average cost of $23.08 per share, for a total transaction of $46,160.00. Following the acquisition, the insider owned 3,100 shares in the company, valued at approximately $71,548. This represents a 181.82% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Eugene S. Stark acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average price of $24.00 per share, for a total transaction of $120,000.00. Following the completion of the acquisition, the vice president owned 17,000 shares in the company, valued at $408,000. The trade was a 41.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 15,000 shares of company stock worth $350,950 in the last 90 days. Insiders own 7.93% of the company’s stock.

Hedge Funds Weigh In On General American Investors

Several hedge funds and other institutional investors have recently made changes to their positions in GAM. Bank of America Corp DE purchased a new position in General American Investors in the 2nd quarter valued at $1,948,000. Capstone Investment Advisors LLC purchased a new stake in shares of General American Investors during the second quarter worth $2,285,000. Evolve Private Wealth LLC purchased a new stake in shares of General American Investors during the second quarter worth $2,435,000. Lazard Asset Management LLC grew its holdings in shares of General American Investors by 13.1% during the first quarter. Lazard Asset Management LLC now owns 1,580,674 shares of the investment management company’s stock worth $92,422,000 after buying an additional 183,051 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of General American Investors by 9.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 430,935 shares of the investment management company’s stock worth $25,197,000 after buying an additional 37,312 shares in the last quarter. Hedge funds and other institutional investors own 36.85% of the company’s stock.

About General American Investors