Park Avenue Securities LLC Cuts Stake in General American Investors, Inc. $GAM

Park Avenue Securities LLC lessened its position in General American Investors, Inc. (NYSE:GAM) by 80.1% in the 3rd quarter, Holdings Channel reports. The fund owned 6,345 shares of the investment management company’s stock after selling 25,478 shares during the period. Park Avenue Securities LLC’s holdings in General American Investors were worth $395,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. BCS Wealth Management acquired a new stake in General American Investors in the third quarter valued at about $241,000. Allspring Global Investments Holdings LLC raised its stake in shares of General American Investors by 8.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 397,812 shares of the investment management company’s stock worth $24,748,000 after buying an additional 30,217 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of General American Investors by 41.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,755 shares of the investment management company’s stock worth $210,000 after buying an additional 1,103 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of General American Investors by 34.2% in the 2nd quarter. Bank of America Corp DE now owns 41,648 shares of the investment management company’s stock valued at $2,334,000 after buying an additional 10,607 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of General American Investors by 2.2% in the second quarter. Raymond James Financial Inc. now owns 25,706 shares of the investment management company’s stock valued at $1,441,000 after buying an additional 550 shares in the last quarter. 36.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Eugene S. Stark acquired 4,000 shares of General American Investors stock in a transaction that occurred on Tuesday, January 13th. The stock was purchased at an average price of $24.98 per share, for a total transaction of $99,920.00. Following the completion of the purchase, the vice president directly owned 24,000 shares of the company’s stock, valued at approximately $599,520. This trade represents a 20.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have bought 4,100 shares of company stock valued at $102,418. Company insiders own 8.33% of the company’s stock.

General American Investors Stock Up 0.2%

Shares of GAM stock opened at $60.35 on Friday. The business’s fifty day moving average price is $59.24 and its 200 day moving average price is $59.85. General American Investors, Inc. has a 1-year low of $41.80 and a 1-year high of $64.40.

General American Investors Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, December 26th. Stockholders of record on Monday, November 17th were paid a dividend of $6.40 per share. This is a boost from General American Investors’s previous annual dividend of $0.45. The ex-dividend date of this dividend was Monday, November 17th. This represents a dividend yield of 1,125.0%.

General American Investors Profile

General American Investors Company, Inc is a diversified closed-end management investment company listed on the New York Stock Exchange under the ticker GAM. The firm primarily allocates capital to equity and equity-related securities of publicly traded companies, aiming to generate long-term capital appreciation for its shareholders. Its flexible mandate allows investment across a broad range of industries and market capitalizations.

The company follows a value-oriented, fundamental research approach, conducting in-depth analysis to identify undervalued businesses with strong growth potential.