Sit Investment Associates Inc. lifted its holdings in General American Investors Company, Inc. (NYSE:GAM - Free Report) by 35.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 239,050 shares of the investment management company's stock after acquiring an additional 63,197 shares during the quarter. Sit Investment Associates Inc. owned 1.00% of General American Investors worth $12,194,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Armstrong Advisory Group Inc. purchased a new position in General American Investors during the fourth quarter worth approximately $52,000. PNC Financial Services Group Inc. boosted its holdings in shares of General American Investors by 8.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,490 shares of the investment management company's stock worth $127,000 after purchasing an additional 197 shares during the last quarter. Tyler Stone Wealth Management increased its stake in shares of General American Investors by 8.5% in the 4th quarter. Tyler Stone Wealth Management now owns 4,878 shares of the investment management company's stock worth $249,000 after acquiring an additional 384 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in General American Investors by 8.0% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,035 shares of the investment management company's stock worth $257,000 after purchasing an additional 372 shares during the last quarter. Finally, Integrated Capital Management Inc. boosted its holdings in General American Investors by 22.1% in the 4th quarter. Integrated Capital Management Inc. now owns 5,196 shares of the investment management company's stock valued at $265,000 after purchasing an additional 940 shares during the last quarter. Hedge funds and other institutional investors own 36.85% of the company's stock.
Insider Transactions at General American Investors
In other news, CEO Jeffrey W. Priest purchased 1,735 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were bought at an average cost of $24.75 per share, for a total transaction of $42,941.25. Following the completion of the purchase, the chief executive officer now directly owns 17,127 shares of the company's stock, valued at approximately $423,893.25. This trade represents a 11.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Eugene S. Stark acquired 2,500 shares of the company's stock in a transaction dated 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 completion of the purchase, the vice president now directly owns 14,500 shares of the company's stock, valued at approximately $362,500. This represents a 20.83 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 4,885 shares of company stock worth $121,691. 8.33% of the stock is currently owned by insiders.
General American Investors Price Performance
GAM stock traded down $0.93 during midday trading on Thursday, hitting $48.07. 20,639 shares of the company's stock were exchanged, compared to its average volume of 30,272. The business has a 50-day simple moving average of $50.69 and a two-hundred day simple moving average of $51.83. General American Investors Company, Inc. has a 1-year low of $41.80 and a 1-year high of $55.44.
General American Investors Cuts Dividend
The business also recently declared a -- dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were paid a $0.25 dividend. This represents a dividend yield of 0.9%. The ex-dividend date was Monday, February 24th.
About General American Investors
(
Free Report)
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.
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