General American Investors (NYSE:GAM) Stock: Insider Eugene Stark Buys 3,000 Shares

General American Investors, Inc. (NYSE:GAM) VP Eugene Stark acquired 3,000 shares of the business’s stock in a transaction dated Friday, November 13th. The shares were bought at an average cost of $22.00 per share, with a total value of $66,000.00. Following the transaction, the vice president directly owned 20,000 shares of the company’s stock, valued at $440,000. The trade was a 17.65% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

General American Investors Stock Down 0.5%

Shares of NYSE GAM traded down $0.32 during mid-day trading on Friday, hitting $65.24. The company had a trading volume of 62,690 shares, compared to its average volume of 28,237. The business’s 50-day simple moving average is $64.59 and its 200-day simple moving average is $63.61. General American Investors, Inc. has a 12 month low of $56.24 and a 12 month high of $68.57.

General American Investors Increases Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, December 30th. Investors of record on Monday, November 16th will be paid a dividend of $7.43 per share. This is a positive change from General American Investors’s previous annual dividend of $6.40. This represents a yield of 1,149.0%. The ex-dividend date is Monday, November 16th.

Hedge Funds Weigh In On General American Investors

Several large investors have recently added to or reduced their stakes in GAM. Lazard Asset Management LLC lifted its position in shares of General American Investors by 13.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,580,674 shares of the investment management company’s stock worth $92,422,000 after acquiring an additional 183,051 shares during the period. Blue Bell Private Wealth Management LLC grew its holdings in shares of General American Investors by 1.2% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 835,331 shares of the investment management company’s stock worth $52,993,000 after purchasing an additional 9,845 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of General American Investors during the third quarter valued at approximately $26,968,000. Allspring Global Investments Holdings LLC increased its position 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 valued at $25,197,000 after purchasing an additional 37,312 shares during the period. Finally, Samalin Investment Counsel LLC increased its position in shares of General American Investors by 63.8% during the third quarter. Samalin Investment Counsel LLC now owns 41,332 shares of the investment management company’s stock valued at $2,622,000 after purchasing an additional 16,098 shares during the period. Institutional investors and hedge funds own 36.85% of the company’s stock.

General American Investors Company Profile

General American Investors Company, Inc. is a closed-end investment company that invests in a diversified portfolio of securities. Its investment objective is to seek long-term capital appreciation while also considering income. Founded in 1927, the company invests primarily in stocks of U.S. companies. Its shares trade on the New York Stock Exchange, giving investors access to its portfolio through a publicly traded investment vehicle.