General American Investors Company, Inc. (NYSE:GAM) Stock Position Lessened by Cornerstone Advisors LLC

Cornerstone Advisors LLC lessened its holdings in shares of General American Investors Company, Inc. (NYSE:GAM - Free Report) by 38.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 202,525 shares of the investment management company's stock after selling 126,960 shares during the quarter. Cornerstone Advisors LLC owned about 0.84% of General American Investors worth $10,331,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Pathstone Holdings LLC grew its holdings in General American Investors by 31.9% during the 3rd quarter. Pathstone Holdings LLC now owns 330,584 shares of the investment management company's stock valued at $17,731,000 after buying an additional 79,975 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of General American Investors during the third quarter worth $1,769,000. Concurrent Investment Advisors LLC purchased a new position in General American Investors during the fourth quarter valued at $1,564,000. Advisors Asset Management Inc. bought a new stake in General American Investors in the 3rd quarter valued at $1,490,000. Finally, Raymond James Financial Inc. purchased a new stake in General American Investors in the 4th quarter worth $797,000. 36.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jeffrey W. Priest purchased 6,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $150,000.00. Following the completion of the transaction, the chief executive officer now directly owns 15,392 shares in the company, valued at $384,800. This represents a 63.88 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Eugene S. Stark acquired 2,500 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was purchased at an average cost of $25.00 per share, with a total value of $62,500.00. Following the purchase, the vice president now owns 14,500 shares of the company's stock, valued at $362,500. The trade was a 20.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 10,000 shares of company stock valued at $249,957 in the last quarter. 8.33% of the stock is currently owned by insiders.

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General American Investors Stock Up 1.2 %

Shares of GAM traded up $0.58 during midday trading on Friday, hitting $49.75. 20,619 shares of the company traded hands, compared to its average volume of 29,209. General American Investors Company, Inc. has a 52 week low of $44.54 and a 52 week high of $55.44. The firm has a 50 day moving average of $51.74 and a 200-day moving average of $52.25.

General American Investors Cuts Dividend

The company also recently declared a -- dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a dividend of $0.25 per share. This represents a yield of 0.9%. The ex-dividend date of this dividend was Monday, February 24th.

About General American Investors

General American Investors Company, Inc is a publicly owned investment manager. The firm invests in the public equity markets of United States. It invests in growth stocks of companies. It makes investments in Information Technology, Financials, Consumer Staples, Consumer Discretionary, Retailing, Communication Services, Industrials, Health Care, Energy and Materials.