Insider Buying: General American Investors (NYSE:GAM) VP Purchases 1,000 Shares of Company Stock

Key Points

• VP Eugene Stark bought 1,000 shares at an average price of $21.95, spending $21,950. The purchase increased his direct ownership by 2.56% to 40,000 shares.
• General American Investors shares fell 0.5% on Thursday to $65.44, while trading within a 12-month range of $56.24 to $68.57.
• The company raised its annual dividend to $7.43 per share, up from $6.40; it is scheduled to be paid December 30 to shareholders of record November 16.

General American Investors, Inc. (NYSE:GAM - Get Free Report) VP Eugene Stark purchased 1,000 shares of the company's stock in a transaction on Thursday, November 12th. The stock was bought at an average price of $21.95 per share, for a total transaction of $21,950.00. Following the completion of the purchase, the vice president directly owned 40,000 shares of the company's stock, valued at $878,000. The trade was a 2.56% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

General American Investors Stock Down 0.5%

Shares of NYSE:GAM traded down $0.35 during trading on Thursday, hitting $65.44. 41,159 shares of the company were exchanged, compared to its average volume of 27,075. General American Investors, Inc. has a 12-month low of $56.24 and a 12-month high of $68.57. The firm's 50 day moving average price is $64.65 and its 200-day moving average price is $63.57.

General American Investors Increases Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, December 30th. Investors of record on Monday, November 16th will be paid a dividend of $7.43 per share. The ex-dividend date is Monday, November 16th. This represents a yield of 1,149.0%. This is an increase from General American Investors's previous annual dividend of $6.40.

Hedge Funds Weigh In On General American Investors

Large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. acquired a new stake in shares of General American Investors in the 3rd quarter valued at about $26,968,000. Quantedge Capital Pte Ltd acquired a new position in General American Investors during the third quarter worth approximately $216,000. HighTower Advisors LLC increased its position in General American Investors by 29.0% during the third quarter. HighTower Advisors LLC now owns 18,283 shares of the investment management company's stock worth $1,160,000 after buying an additional 4,112 shares during the period. Blue Bell Private Wealth Management LLC lifted its stake in General American Investors by 1.2% in the third quarter. Blue Bell Private Wealth Management LLC now owns 835,331 shares of the investment management company's stock valued at $52,993,000 after buying an additional 9,845 shares during the last quarter. Finally, Samalin Investment Counsel LLC lifted its stake in General American Investors by 63.8% in the third quarter. Samalin Investment Counsel LLC now owns 41,332 shares of the investment management company's stock valued at $2,622,000 after buying an additional 16,098 shares during the last quarter. Institutional investors and hedge funds own 36.85% of the company's stock.

General American Investors Company Profile

General American Investors Company, Inc. is a closed-end investment company that invests in a diversified portfolio of securities. Its investment objective is to seek long-term capital appreciation while also considering income. Founded in 1927, the company invests primarily in stocks of U.S. companies. Its shares trade on the New York Stock Exchange, giving investors access to its portfolio through a publicly traded investment vehicle.

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