Bank of America Corp DE Decreases Stake in General American Investors Company, Inc. (NYSE:GAM)

Bank of America Corp DE cut its holdings in shares of General American Investors Company, Inc. (NYSE:GAM - Free Report) by 35.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,216 shares of the investment management company's stock after selling 20,788 shares during the period. Bank of America Corp DE owned about 0.16% of General American Investors worth $1,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased 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 valued at $127,000 after purchasing an additional 197 shares in the last quarter. Tyler Stone Wealth Management boosted its holdings in General American Investors by 8.5% during the fourth quarter. Tyler Stone Wealth Management now owns 4,878 shares of the investment management company's stock worth $249,000 after buying an additional 384 shares in the last quarter. Stratos Wealth Partners LTD. grew 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 valued at $257,000 after buying an additional 372 shares during the period. Wells Fargo & Company MN increased its holdings in General American Investors by 32.8% in the fourth quarter. Wells Fargo & Company MN now owns 5,745 shares of the investment management company's stock valued at $293,000 after buying an additional 1,418 shares in the last quarter. Finally, Savant Capital LLC increased its holdings in General American Investors by 8.1% in the fourth quarter. Savant Capital LLC now owns 9,221 shares of the investment management company's stock valued at $470,000 after buying an additional 689 shares in the last quarter. 36.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jeffrey W. Priest acquired 1,141 shares of the business's stock in a transaction on Thursday, May 8th. The stock was bought at an average cost of $24.75 per share, for a total transaction of $28,239.75. Following the purchase, the chief executive officer now owns 18,268 shares in the company, valued at approximately $452,133. This represents a 6.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Spencer Davidson sold 11,199 shares of the stock in a transaction that occurred 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 directly owns 22,400 shares of the company's stock, valued at $556,192. The trade was a 33.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 3,876 shares of company stock worth $95,981 and have sold 32,599 shares worth $808,839. 8.33% of the stock is currently owned by company insiders.

General American Investors Trading Up 0.5%

Shares of GAM stock traded up $0.27 during mid-day trading on Friday, hitting $54.76. 6,460 shares of the stock were exchanged, compared to its average volume of 28,823. General American Investors Company, Inc. has a 52-week low of $41.80 and a 52-week high of $55.44. The firm has a fifty day moving average of $51.07 and a 200 day moving average of $51.32.

General American Investors 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.