GAM Stock Overview
General American Investors Company, Inc. is a publicly owned investment manager.
General American Investors Company Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$34.33|
|52 Week High||US$46.75|
|52 Week Low||US$33.58|
|1 Month Change||-8.65%|
|3 Month Change||-2.91%|
|1 Year Change||-21.04%|
|3 Year Change||-3.35%|
|5 Year Change||-4.77%|
|Change since IPO||85.57%|
Recent News & Updates
GAM: When Looking For A CEF With Over 50 Years Of Track Record
General American Investors is an equity focused closed end fund. GAM has outperformed the S&P 500 on a 50-year lookback period. The analytics for the fund as reflected in its Sharpe ratio, standard deviation and drawdowns are inferior to the index on a 10-year lookback period. With an above average expense ratio and layered leverage, we expect more from this fund.
|GAM||US Capital Markets||US Market|
Return vs Industry: GAM exceeded the US Capital Markets industry which returned -25.5% over the past year.
Return vs Market: GAM exceeded the US Market which returned -22.1% over the past year.
|GAM Average Weekly Movement||3.0%|
|Capital Markets Industry Average Movement||0.4%|
|Market Average Movement||6.9%|
|10% most volatile stocks in US Market||15.8%|
|10% least volatile stocks in US Market||2.8%|
Stable Share Price: GAM is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: GAM's weekly volatility (3%) has been stable over the past year.
About the Company
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.
General American Investors Company Fundamentals Summary
|GAM fundamental statistics|
Is GAM overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|GAM income statement (TTM)|
|Cost of Revenue||US$0|
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
|Earnings per share (EPS)||-5.51|
|Net Profit Margin||-845.81%|
How did GAM perform over the long term?See historical performance and comparison
9.6%Current Dividend Yield
Is GAM undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 3/6
Price-To-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for GAM?
Other financial metrics that can be useful for relative valuation.
|What is GAM's n/a Ratio?|
Price to Book Ratio vs Peers
How does GAM's PB Ratio compare to its peers?
|GAM PB Ratio vs Peers|
|Company||PB||Estimated Growth||Market Cap|
AC Associated Capital Group
SCRM Screaming Eagle Acquisition
PEO Adams Natural Resources Fund
GHIX Gores Holdings IX
GAM General American Investors Company
Price-To-Book vs Peers: GAM is good value based on its Price-To-Book Ratio (0.8x) compared to the peer average (20202.8x).
Price to Earnings Ratio vs Industry
How does GAM's PE Ratio compare vs other companies in the US Capital Markets Industry?
Price-To-Book vs Industry: GAM is expensive based on its Price-To-Book Ratio (0.8x) compared to the US Capital Markets industry average (-23.3x)
Price to Book Ratio vs Fair Ratio
What is GAM's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PB Ratio||0.8x|
|Fair PB Ratio||n/a|
Price-To-Book vs Fair Ratio: Insufficient data to calculate GAM's Price-To-Book Fair Ratio for valuation analysis.
Share Price vs Fair Value
What is the Fair Price of GAM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: GAM ($34.33) is trading below our estimate of fair value ($54.53)
Significantly Below Fair Value: GAM is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Insufficient data to show price forecast.
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How is General American Investors Company forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Future Growth Score0/6
Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted Diversified Financials industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as General American Investors Company has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
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- Examine whether General American Investors Company is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- General American Investors Company competitive advantages and company strategy can generally be found in its financial reports archived here.
How has General American Investors Company performed over the past 5 years?
Past Performance Score0/6
Past Performance Score 0/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: GAM is currently unprofitable.
Growing Profit Margin: GAM is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: GAM is unprofitable, but has reduced losses over the past 5 years at a rate of 10.3% per year.
Accelerating Growth: Unable to compare GAM's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: GAM is unprofitable, making it difficult to compare its past year earnings growth to the Capital Markets industry (33.2%).
Return on Equity
High ROE: GAM has a negative Return on Equity (-10.09%), as it is currently unprofitable.
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How is General American Investors Company's financial position?
Financial Health Score4/6
Financial Health Score 4/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: GAM's short term assets ($2.2M) do not cover its short term liabilities ($9.9M).
Long Term Liabilities: GAM's short term assets ($2.2M) do not cover its long term liabilities ($10.1M).
Debt to Equity History and Analysis
Debt Level: GAM is debt free.
Reducing Debt: GAM has not had any debt for past 5 years.
Debt Coverage: GAM has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: GAM has no debt, therefore coverage of interest payments is not a concern.
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What is General American Investors Company current dividend yield, its reliability and sustainability?
Dividend Score 3/6
Cash Flow Coverage
Current Dividend Yield
Dividend Yield vs Market
|General American Investors Company Dividend Yield vs Market|
|Company (General American Investors Company)||9.6%|
|Market Bottom 25% (US)||1.6%|
|Market Top 25% (US)||4.6%|
|Industry Average (Capital Markets)||2.9%|
|Analyst forecast in 3 Years (General American Investors Company)||n/a|
Notable Dividend: GAM's dividend (9.61%) is higher than the bottom 25% of dividend payers in the US market (1.67%).
High Dividend: GAM's dividend (9.61%) is in the top 25% of dividend payers in the US market (4.69%)
Stability and Growth of Payments
Stable Dividend: GAM's dividend payments have been volatile in the past 10 years.
Growing Dividend: GAM's dividend payments have increased over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: GAM is paying a dividend but the company is unprofitable.
Cash Payout to Shareholders
Cash Flow Coverage: Insufficient data to calculate cash payout ratio to determine if its dividend payments are covered by cash flows.
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How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Jeffrey Priest (59 yo)
Mr. Jeffrey W. Priest has been the President since February 1, 2012, Chief Executive Officer and Portfolio Manager since January 1, 2013 and Director of General American Investors Company, Inc from 2013. H...
CEO Compensation Analysis
|Jeffrey Priest's Compensation vs General American Investors Company Earnings|
|Date||Total Comp.||Salary||Company Earnings|
|Jun 30 2022||n/a||n/a|
|Mar 31 2022||n/a||n/a|
|Dec 31 2021||US$2m||US$2m|
|Sep 30 2021||n/a||n/a|
|Jun 30 2021||n/a||n/a|
|Mar 31 2021||n/a||n/a|
|Dec 31 2020||US$2m||US$2m|
|Sep 30 2020||n/a||n/a|
|Jun 30 2020||n/a||n/a|
|Mar 31 2020||n/a||n/a|
|Dec 31 2019||US$2m||US$2m|
|Sep 30 2019||n/a||n/a|
|Jun 30 2019||n/a||n/a|
|Mar 31 2019||n/a||n/a|
|Dec 31 2018||US$2m||US$2m|
|Sep 30 2018||n/a||n/a|
|Jun 30 2018||n/a||n/a|
|Mar 31 2018||n/a||n/a|
|Dec 31 2017||US$2m||US$2m|
|Sep 30 2017||n/a||n/a|
|Jun 30 2017||n/a||n/a|
|Mar 31 2017||n/a||n/a|
|Dec 31 2016||US$2m||US$2m|
|Sep 30 2016||n/a||n/a|
|Jun 30 2016||n/a||n/a|
|Mar 31 2016||n/a||n/a|
|Dec 31 2015||US$2m||US$2m|
Compensation vs Market: Jeffrey's total compensation ($USD2.38M) is below average for companies of similar size in the US market ($USD4.14M).
Compensation vs Earnings: Jeffrey's compensation has increased whilst the company is unprofitable.
Experienced Management: GAM's management team is seasoned and experienced (7.7 years average tenure).
Experienced Board: GAM's board of directors are seasoned and experienced ( 11.2 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: GAM insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
|23 Sep 22||BuyUS$17,000||Jeffrey Priest||Individual||500||US$34.00|
|15 Jun 22||BuyUS$10,668||Jeffrey Priest||Individual||300||US$35.56|
|24 May 22||BuyUS$4,837||Jeffrey Priest||Individual||134||US$36.10|
|20 May 22||BuyUS$18,060||Jeffrey Priest||Individual||500||US$36.12|
|Owner Type||Number of Shares||Ownership Percentage|
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
|Ownership||Name||Shares||Current Value||Change %||Portfolio %|
General American Investors Company, Inc.'s employee growth, exchange listings and data sources
- Name: General American Investors Company, Inc.
- Ticker: GAM
- Exchange: NYSE
- Founded: 1927
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Implied Market Cap: US$823.083m
- Shares outstanding: 23.98m
- Website: https://www.generalamericaninvestors.com
- General American Investors Company, Inc.
- 530 Fifth Avenue
- 26th Floor
- New York
- New York
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|GAM||NYSE (New York Stock Exchange)||Yes||Common Stock||US||USD||Jan 1968|
|GAM.PRB||NYSE (New York Stock Exchange)||PFD B 5.95%||US||USD||Sep 2003|
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/09/28 00:00|
|End of Day Share Price||2022/09/28 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.