Insider Buying: General American Investors (NYSE:GAM) VP Purchases 1,000 Shares of Company Stock

General American Investors, Inc. (NYSE:GAM) VP Eugene Stark purchased 1,000 shares of General American Investors stock in a transaction that occurred on Thursday, November 12th. The stock was acquired at an average price of $21.95 per share, with a total value of $21,950.00. Following the transaction, the vice president owned 40,000 shares in the company, valued at $878,000. The trade was a 2.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

General American Investors Stock Down 0.5%

NYSE:GAM traded down $0.35 during trading hours on Thursday, reaching $65.44. 41,159 shares of the company’s stock were exchanged, compared to its average volume of 27,075. General American Investors, Inc. has a 1-year low of $56.24 and a 1-year high of $68.57. The company has a 50-day moving average of $64.65 and a 200 day moving average of $63.57.

General American Investors Increases Dividend

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

Institutional Investors Weigh In On General American Investors

Hedge funds have recently made changes to their positions in the business. 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 during the last quarter. Blue Bell Private Wealth Management LLC raised its stake in 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 valued at $52,993,000 after acquiring an additional 9,845 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in General American Investors during the 3rd quarter valued at approximately $26,968,000. Allspring Global Investments Holdings LLC lifted its position in General American Investors by 9.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 430,935 shares of the investment management company’s stock worth $25,197,000 after acquiring an additional 37,312 shares during the period. Finally, Samalin Investment Counsel LLC lifted its position in General American Investors by 63.8% during the 3rd quarter. Samalin Investment Counsel LLC now owns 41,332 shares of the investment management company’s stock worth $2,622,000 after acquiring an additional 16,098 shares during the period. Institutional investors and hedge funds own 36.85% of the company’s stock.

About General American Investors

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.