General American Investors, Inc. $GAM Shares Purchased by Lazard Asset Management LLC

Key Points

• Lazard Asset Management increased its General American Investors stake by 13.1% in the first quarter, purchasing 183,051 shares to reach 1,580,674 shares valued at approximately $92.4 million, or 6.59% of the company.
• Several other institutional investors also expanded their positions, including Altium Capital Management, which raised its holdings by 133.9%. Institutional investors and hedge funds collectively own 36.85% of GAM’s shares.
• GAM shares opened at $64.27, near their 50-day average of $63.84 and 200-day average of $62.27; the stock’s 52-week range is $56.24 to $66.18.

Lazard Asset Management LLC lifted its stake in General American Investors, Inc. (NYSE:GAM - Free Report) by 13.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,580,674 shares of the investment management company's stock after purchasing an additional 183,051 shares during the quarter. Lazard Asset Management LLC owned about 6.59% of General American Investors worth $92,422,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GAM. First Trust Advisors LP grew its position in General American Investors by 10.1% during the 1st quarter. First Trust Advisors LP now owns 42,898 shares of the investment management company's stock worth $2,508,000 after purchasing an additional 3,940 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of General American Investors by 9.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 430,935 shares of the investment management company's stock worth $25,197,000 after buying an additional 37,312 shares during the last quarter. Altium Capital Management LLC raised its holdings in shares of General American Investors by 133.9% in the first quarter. Altium Capital Management LLC now owns 48,755 shares of the investment management company's stock worth $2,851,000 after buying an additional 27,910 shares during the last quarter. Nixon Peabody Trust Co. lifted its stake in shares of General American Investors by 10.9% during the first quarter. Nixon Peabody Trust Co. now owns 7,047 shares of the investment management company's stock worth $412,000 after buying an additional 692 shares during the period. Finally, Cornerstone Planning LLC purchased a new stake in shares of General American Investors during the fourth quarter valued at $419,000. 36.85% of the stock is currently owned by institutional investors and hedge funds.

General American Investors Price Performance

NYSE GAM opened at $64.27 on Tuesday. The stock's fifty day moving average price is $63.84 and its 200 day moving average price is $62.27. General American Investors, Inc. has a 1 year low of $56.24 and a 1 year high of $66.18.

About General American Investors

General American Investors Company, Inc is a diversified closed-end management investment company listed on the New York Stock Exchange under the ticker GAM. The firm primarily allocates capital to equity and equity-related securities of publicly traded companies, aiming to generate long-term capital appreciation for its shareholders. Its flexible mandate allows investment across a broad range of industries and market capitalizations.

The company follows a value-oriented, fundamental research approach, conducting in-depth analysis to identify undervalued businesses with strong growth potential.

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