General American Investors Company, Inc. (NYSE:GAM) Insider Acquires $16,250.00 in Stock

General American Investors Company, Inc. (NYSE:GAM) insider Craig Anthony Grassi purchased 650 shares of the stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $16,250.00. Following the transaction, the insider now directly owns 1,000 shares in the company, valued at approximately $25,000. The trade was a 185.71 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

General American Investors Price Performance

NYSE:GAM opened at $50.49 on Friday. General American Investors Company, Inc. has a 1-year low of $44.54 and a 1-year high of $55.44. The firm has a fifty day simple moving average of $51.89 and a 200 day simple moving average of $52.36.

General American Investors Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a $0.25 dividend. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, February 24th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Saba Capital Management L.P. grew its holdings in General American Investors by 42.6% during the fourth quarter. Saba Capital Management L.P. now owns 1,464,300 shares of the investment management company’s stock worth $74,694,000 after purchasing an additional 437,632 shares during the period. First Manhattan CO. LLC. lifted its position in shares of General American Investors by 8.4% in the fourth quarter. First Manhattan CO. LLC. now owns 5,581 shares of the investment management company’s stock valued at $285,000 after buying an additional 434 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of General American Investors by 78.7% during the 4th quarter. Cetera Investment Advisers now owns 17,011 shares of the investment management company’s stock worth $868,000 after acquiring an additional 7,492 shares during the period. Capstone Investment Advisors LLC increased its holdings in shares of General American Investors by 8.6% during the 4th quarter. Capstone Investment Advisors LLC now owns 35,841 shares of the investment management company’s stock worth $1,828,000 after acquiring an additional 2,841 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in General American Investors by 3.0% in the 4th quarter. First Trust Advisors LP now owns 36,230 shares of the investment management company’s stock valued at $1,848,000 after acquiring an additional 1,051 shares during the period. 36.85% of the stock is currently owned by institutional investors and hedge funds.

About General American Investors

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.