Envestnet Asset Management Inc. lifted its holdings in shares of General American Investors Company, Inc. (NYSE:GAM – Get Rating) by 5.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 34,343 shares of the investment management company’s stock after acquiring an additional 1,834 shares during the period. Envestnet Asset Management Inc.’s holdings in General American Investors were worth $1,214,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its holdings in General American Investors by 3.8% in the second quarter. Park Avenue Securities LLC now owns 35,479 shares of the investment management company’s stock valued at $1,255,000 after acquiring an additional 1,298 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its holdings in General American Investors by 1.2% in the second quarter. Blue Bell Private Wealth Management LLC now owns 636,680 shares of the investment management company’s stock valued at $22,513,000 after acquiring an additional 7,797 shares during the last quarter. Cannell & Co. boosted its holdings in General American Investors by 1.2% in the first quarter. Cannell & Co. now owns 46,604 shares of the investment management company’s stock valued at $1,979,000 after acquiring an additional 558 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in General American Investors by 6.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 207,255 shares of the investment management company’s stock valued at $7,328,000 after acquiring an additional 12,185 shares during the last quarter. Finally, Prospera Financial Services Inc acquired a new position in General American Investors in the first quarter valued at $129,000. Institutional investors and hedge funds own 21.96% of the company’s stock.
Insiders Place Their Bets
In other General American Investors news, insider Anang K. Majmudar bought 1,300 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were acquired at an average cost of $24.97 per share, with a total value of $32,461.00. Following the completion of the transaction, the insider now owns 2,500 shares in the company, valued at $62,425. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have purchased a total of 2,899 shares of company stock worth $76,942 over the last quarter. 8.12% of the stock is owned by corporate insiders.
General American Investors Trading Up 1.8 %
General American Investors Increases Dividend
The business also recently disclosed an annual dividend, which will be paid on Thursday, December 29th. Shareholders of record on Monday, November 14th will be paid a dividend of $1.00 per share. This represents a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, November 11th. This is a boost from General American Investors’s previous annual dividend of $0.50.
General American Investors 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.
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