Key Points
- VP Eugene Stark bought 3,000 General American Investors shares for a reported total of $66,000, increasing his holdings by 17.65% to 20,000 shares; the purchase was disclosed in an SEC filing.
- The company declared an annual dividend of $7.43 per share, up from $6.40, payable December 30 to shareholders of record November 16.
- GAM shares fell 0.5% to $65.24 in Friday trading. Institutional investors and hedge funds own 36.85% of the stock, according to the article.
General American Investors, Inc. (NYSE:GAM - Get Free Report) VP Eugene Stark bought 3,000 shares of the firm's stock in a transaction on Friday, November 13th. The shares were acquired at an average price of $22.00 per share, for a total transaction of $66,000.00. Following the transaction, the vice president owned 20,000 shares in the company, valued at approximately $440,000. This represents a 17.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
General American Investors Stock Down 0.5%
Shares of GAM traded down $0.32 during mid-day trading on Friday, hitting $65.24. 62,690 shares of the company's stock were exchanged, compared to its average volume of 28,237. General American Investors, Inc. has a 52 week low of $56.24 and a 52 week high of $68.57. The stock's 50-day simple moving average is $64.59 and its 200-day simple moving average is $63.61.
General American Investors Increases Dividend
The business 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 $7.43 dividend. This represents a dividend yield of 1,149.0%. This is an increase from General American Investors's previous annual dividend of $6.40. The ex-dividend date is Monday, November 16th.
Institutional Investors Weigh In On General American Investors
A number of large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its stake in General American Investors by 13.1% during 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 increased its position in shares of General American Investors by 1.2% in the third 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 during the period. Advisors Asset Management Inc. bought a new position in shares of General American Investors in the third quarter worth $26,968,000. Allspring Global Investments Holdings LLC raised its stake in General American Investors by 9.5% in 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 in the last quarter. Finally, Samalin Investment Counsel LLC raised its stake in General American Investors by 63.8% in 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 in the last quarter. Institutional investors and hedge funds own 36.85% of the company's stock.
General American Investors Company Profile
(
Get Free Report)
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.
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