Netflix’s margin miss; Tesla to report; gold choppy - what’s moving markets
Spencer Davidson, Chairman at General American Investors Co Inc (NYSE:GAM), reported purchasing 789 shares of 5.95% Preferred Stock on October 20, 2025. The shares were bought at a price of $24.97, totaling $19,701. The purchase comes as GAM, with a market capitalization of $1.46 billion, maintains its impressive 54-year streak of consecutive dividend payments. According to InvestingPro data, the stock offers a substantial 7.2% dividend yield and trades near its 52-week high of $64.27.
Following the transaction, Davidson directly holds 99,434 shares of 5.95% Preferred Stock. Davidson also directly holds 1,422,966 shares of Common Stock, and 4,548 shares of Common Stock in an IRA account. Additionally, Davidson indirectly holds 11,487 shares of Common Stock and 5,000 shares of 5.95% Preferred Stock through various trusts. With a beta of 0.83, GAM demonstrates relatively low price volatility, making it an attractive option for stability-focused investors. InvestingPro subscribers can access 8 additional key insights about GAM’s financial health and market position.
In other recent news, General American Investors Company, Inc. has announced the appointment of Sarah M. Ward to its Board of Directors. Ward brings a wealth of experience from her tenure as a senior partner at Skadden, Arps, Slate, Meagher & Flom LLP, where she retired in December 2021. Her expertise in legal and financial services is expected to be a valuable addition to the closed-end management investment company. Ward currently holds board positions at CI Financial, Corient, Loblolly Inc., and the Settlement Housing Fund. This development is part of the company’s ongoing efforts to strengthen its governance and strategic direction. General American Investors did not report any other major financial updates or analyst ratings in this announcement. The company has not disclosed any immediate plans for mergers or acquisitions. Investors may find this board appointment noteworthy as part of the company’s broader leadership strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.