Insider Selling: General American Investors Company, Inc. (NYSE:GAM) Chairman Sells 11,199 Shares of Stock

General American Investors Company, Inc. (NYSE:GAM) Chairman Spencer Davidson sold 11,199 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $24.83, for a total value of $278,071.17. Following the transaction, the chairman now owns 22,400 shares in the company, valued at approximately $556,192. This represents a 33.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

General American Investors Stock Up 0.6 %

NYSE:GAM opened at $50.69 on Wednesday. The company has a 50-day moving average of $51.50 and a 200 day moving average of $52.12. General American Investors Company, Inc. has a 1-year low of $44.54 and a 1-year high of $55.44.

General American Investors Cuts Dividend

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

Hedge Funds Weigh In On General American Investors

Institutional investors have recently bought and sold shares of the business. Saba Capital Management L.P. boosted its position in 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 valued at $74,694,000 after acquiring an additional 437,632 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its position in shares of General American Investors by 0.6% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 718,133 shares of the investment management company’s stock worth $36,632,000 after acquiring an additional 4,256 shares in the last quarter. Sit Investment Associates Inc. lifted its stake in shares of General American Investors by 35.9% during the 4th quarter. Sit Investment Associates Inc. now owns 239,050 shares of the investment management company’s stock worth $12,194,000 after purchasing an additional 63,197 shares during the last quarter. Cohen & Steers Inc. boosted its position in 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 valued at $11,328,000 after purchasing an additional 36,746 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in General American Investors by 139.7% in 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 purchasing an additional 38,814 shares during the last quarter. 36.85% of the stock is owned by hedge funds and other institutional investors.

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.