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Craig Anthony Grassi, Vice-President of General American Investors Co Inc (NYSE:GAM), a $1.19 billion market cap company with an impressive dividend track record spanning 54 years, has recently acquired 650 shares of the company’s 5.95% Preferred Stock, valued at $16,250. The transaction took place on March 6, 2025, with each share purchased at a price of $25. Following this acquisition, Grassi holds a total of 1,000 shares of the 5.95% Preferred Stock. These shares are held indirectly, as they are registered under his spouse’s IRA account. The company currently offers an attractive 8.84% dividend yield and maintains a strong financial health score of 3.1/5 according to InvestingPro.
Additionally, Grassi’s holding of common stock remains at 73,127 shares, which are indirectly owned through the issuer’s Employees’ Thrift Plan Trust. There is no change in the number of common stock shares owned, as the recent transaction only involved preferred stock. Trading at a P/E ratio of 5.07, the stock has demonstrated low price volatility with a beta of 0.91. For comprehensive insider trading analysis and additional financial metrics, explore InvestingPro, which offers 6 more key insights about GAM.
In other recent news, General American Investors Company, Inc. has declared a spill-over capital gain distribution of $0.25 per share for its common stock. This distribution results from net long-term profits on securities sold between November 1, 2024, and December 31, 2024, and is expected to be taxable as long-term capital gain income. Stockholders of record by February 24, 2025, will receive this cash payment on March 7, 2025, which will be included in their 2025 federal income tax returns. Additionally, the company’s Board of Directors announced a dividend and distribution of $0.371875 per share on its 5.95% cumulative preferred stock, series B. This payment is scheduled for March 24, 2025, for shareholders on record as of March 7, 2025, covering the accrual period from December 24, 2024, through March 23, 2025. The taxable portions of this distribution will be communicated to preferred shareholders in early 2026. General American Investors has total net assets of approximately $1.4 billion across 23.5 million shares of common stock. The aggregate liquidation value of the preferred stock is reported at $190 million. These updates are part of the company’s ongoing financial activities.
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