Envestnet Asset Management Inc. Decreases Stake in General American Investors, Inc. (NYSE:GAM)

Envestnet Asset Management Inc. reduced its stake in General American Investors, Inc. (NYSE:GAM) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,571 shares of the investment management company’s stock after selling 327 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of General American Investors worth $1,590,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Joel Isaacson & Co. LLC purchased a new position in shares of General American Investors during the first quarter valued at approximately $623,000. Janney Montgomery Scott LLC boosted its holdings in General American Investors by 2.9% in the first quarter. Janney Montgomery Scott LLC now owns 10,629 shares of the investment management company’s stock valued at $535,000 after acquiring an additional 301 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in General American Investors during the 1st quarter valued at $303,000. Tompkins Financial Corp purchased a new position in General American Investors during the 1st quarter valued at $232,000. Finally, Saba Capital Management L.P. raised its holdings in General American Investors by 42.6% in the 4th 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 in the last quarter. 36.85% of the stock is owned by hedge funds and other institutional investors.

General American Investors Stock Down 0.7%

NYSE:GAM opened at $56.87 on Thursday. The company has a 50-day moving average price of $55.56 and a 200-day moving average price of $52.60. General American Investors, Inc. has a 12 month low of $41.80 and a 12 month high of $58.19.

Insider Activity

In related news, Director Arthur G. Altschul, Jr. sold 17,400 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $24.82, for a total value of $431,868.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $124,100. This represents a 77.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey W. Priest acquired 1,141 shares of the stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $24.75 per share, with a total value of $28,239.75. Following the completion of the acquisition, the chief executive officer directly owned 18,268 shares of the company’s stock, valued at $452,133. This trade represents a 6.66% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 2,673 shares of company stock worth $71,855 in the last quarter. 8.33% of the stock is owned by corporate insiders.

General American Investors Company 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.