Advisors Asset Management Inc. Raises Stake in General American Investors, Inc. $GAM

Advisors Asset Management Inc. boosted its stake in shares of General American Investors, Inc. (NYSE:GAM) by 20.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,440 shares of the investment management company’s stock after buying an additional 16,734 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.42% of General American Investors worth $6,062,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GAM. Allspring Global Investments Holdings LLC lifted its position in shares of General American Investors by 8.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 397,812 shares of the investment management company’s stock worth $24,748,000 after purchasing an additional 30,217 shares during the period. Envestnet Asset Management Inc. lifted its holdings in General American Investors by 8.9% during the second quarter. Envestnet Asset Management Inc. now owns 34,381 shares of the investment management company’s stock worth $1,927,000 after buying an additional 2,810 shares during the period. Bank of Montreal Can bought a new stake in General American Investors during the 2nd quarter valued at $203,000. Prospera Financial Services Inc bought a new stake in General American Investors during the 2nd quarter valued at $203,000. Finally, Janney Montgomery Scott LLC increased its holdings in shares of General American Investors by 5.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 11,220 shares of the investment management company’s stock valued at $629,000 after acquiring an additional 591 shares during the period. 36.85% of the stock is currently owned by institutional investors.

General American Investors Stock Down 0.6%

Shares of General American Investors stock opened at $61.17 on Friday. The firm’s 50 day moving average price is $59.82 and its 200-day moving average price is $60.38. General American Investors, Inc. has a 52-week low of $41.80 and a 52-week high of $64.40.

Insider Buying and Selling at General American Investors

In related news, VP Eugene S. Stark purchased 4,000 shares of General American Investors stock in a transaction that occurred on Tuesday, January 13th. The stock was bought at an average cost of $24.98 per share, for a total transaction of $99,920.00. Following the completion of the transaction, the vice president owned 24,000 shares in the company, valued at $599,520. The trade was a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Anang K. Majmudar acquired 1,700 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $42,500.00. Following the purchase, the insider directly owned 9,405 shares in the company, valued at approximately $235,125. This trade represents a 22.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 6,895 shares of company stock worth $172,293. 8.33% of the stock is owned by insiders.

General American Investors Profile

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.