Allspring Global Investments Holdings LLC lessened its holdings in shares of General American Investors, Inc. (NYSE:GAM - Free Report) by 9.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 334,257 shares of the investment management company's stock after selling 34,155 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in General American Investors were worth $16,837,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in shares of General American Investors by 8.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,490 shares of the investment management company's stock worth $127,000 after buying an additional 197 shares in the last quarter. Tompkins Financial Corp acquired a new position in General American Investors during the 1st quarter worth $232,000. Tyler Stone Wealth Management grew its holdings in General American Investors by 8.5% during 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 in the last quarter. First Manhattan CO. LLC. increased its position in shares of General American Investors by 8.4% in the 4th quarter. First Manhattan CO. LLC. now owns 5,581 shares of the investment management company's stock worth $285,000 after purchasing an additional 434 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of General American Investors by 32.8% in the 4th quarter. Wells Fargo & Company MN now owns 5,745 shares of the investment management company's stock valued at $293,000 after purchasing an additional 1,418 shares in the last quarter. 36.85% of the stock is currently owned by hedge funds and other institutional investors.
General American Investors Stock Up 0.7%
NYSE:GAM traded up $0.42 during mid-day trading on Friday, reaching $56.62. The stock had a trading volume of 5,576 shares, compared to its average volume of 28,619. General American Investors, Inc. has a 1-year low of $41.80 and a 1-year high of $57.09. The stock's 50 day simple moving average is $53.78 and its two-hundred day simple moving average is $51.87.
Insider Buying and Selling
In related news, Director Arthur G. Altschul, Jr. sold 17,400 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $24.82, for a total value of $431,868.00. Following the sale, the director owned 5,000 shares of the company's stock, valued at approximately $124,100. This trade represents a 77.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey W. Priest acquired 1,141 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average price of $24.75 per share, with a total value of $28,239.75. Following the completion of the purchase, the chief executive officer owned 18,268 shares in the company, valued at $452,133. The trade was a 6.66% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 2,496 shares of company stock worth $61,780 over the last ninety days. 8.33% of the stock is owned by insiders.
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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