Shaker Financial Services LLC Makes New $7.99 Million Investment in General American Investors, Inc. (NYSE:GAM)

Shaker Financial Services LLC acquired a new position in General American Investors, Inc. (NYSE:GAM) during the first quarter, Holdings Channel.com reports. The firm acquired 158,628 shares of the investment management company’s stock, valued at approximately $7,990,000. General American Investors makes up approximately 3.1% of Shaker Financial Services LLC’s portfolio, making the stock its 2nd biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in GAM. Wells Fargo & Company MN lifted its holdings in General American Investors by 32.8% in the 4th quarter. Wells Fargo & Company MN now owns 5,745 shares of the investment management company’s stock worth $293,000 after buying an additional 1,418 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of General American Investors by 17.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 31,898 shares of the investment management company’s stock worth $1,627,000 after purchasing an additional 4,783 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of General American Investors in the 4th quarter worth about $797,000. Cohen & Steers Inc. increased its position in shares of General American Investors by 19.8% in the 4th quarter. Cohen & Steers Inc. now owns 222,069 shares of the investment management company’s stock worth $11,328,000 after purchasing an additional 36,746 shares during the last quarter. Finally, Guggenheim Capital LLC increased its position in shares of General American Investors by 18.2% in the 4th quarter. Guggenheim Capital LLC now owns 27,749 shares of the investment management company’s stock worth $1,415,000 after purchasing an additional 4,282 shares during the last quarter. Institutional investors and hedge funds own 36.85% of the company’s stock.

Insider Activity

In related news, CEO Jeffrey W. Priest bought 1,141 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 18,268 shares of the company’s stock, valued at approximately $452,133. This trade represents a 6.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arthur G. Altschul, Jr. sold 17,400 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $24.82, for a total transaction of $431,868.00. Following the completion of the sale, the director directly owned 5,000 shares of the company’s stock, valued at $124,100. The trade was a 77.68% decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 2,673 shares of company stock valued at $71,855 in the last three months. Insiders own 8.33% of the company’s stock.

General American Investors Price Performance

GAM opened at $57.05 on Tuesday. The company has a 50-day moving average of $55.78 and a 200-day moving average of $52.72. General American Investors, Inc. has a 1-year low of $41.80 and a 1-year high of $58.19.

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.