Insider Buying: General American Investors Company, Inc. (NYSE:GAM) CEO Acquires 1,735 Shares of Stock

General American Investors Company, Inc. (NYSE:GAM) CEO Jeffrey W. Priest bought 1,735 shares of the stock in a transaction on Tuesday, April 1st. The shares were acquired at an average cost of $24.75 per share, for a total transaction of $42,941.25. Following the acquisition, the chief executive officer now directly owns 17,127 shares in the company, valued at approximately $423,893.25. This trade represents a 11.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

General American Investors Stock Up 0.6 %

NYSE GAM traded up $0.32 during trading hours on Tuesday, hitting $50.69. The company had a trading volume of 34,313 shares, compared to its average volume of 29,998. The firm has a 50 day simple moving average of $51.55 and a 200 day simple moving average of $52.13. General American Investors Company, Inc. has a 52 week low of $44.54 and a 52 week high of $55.44.

General American Investors Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Saba Capital Management L.P. lifted its holdings in shares of General American Investors by 42.6% during the 4th quarter. Saba Capital Management L.P. now owns 1,464,300 shares of the investment management company’s stock worth $74,694,000 after acquiring an additional 437,632 shares during the last quarter. Sit Investment Associates Inc. raised its stake in shares of General American Investors by 35.9% during the fourth quarter. Sit Investment Associates Inc. now owns 239,050 shares of the investment management company’s stock valued at $12,194,000 after acquiring an additional 63,197 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of General American Investors by 139.7% during the fourth quarter. Advisors Asset Management Inc. now owns 66,603 shares of the investment management company’s stock valued at $3,397,000 after acquiring an additional 38,814 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in shares of General American Investors by 19.8% during the fourth quarter. Cohen & Steers Inc. now owns 222,069 shares of the investment management company’s stock worth $11,328,000 after purchasing an additional 36,746 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of General American Investors in the fourth quarter worth about $1,564,000. Institutional investors own 36.85% of the company’s stock.

General American Investors Company Profile

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.