Goldman Sachs Group Inc. boosted its holdings in shares of Gamco Investors, Inc. (NYSE:GBL) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,890 shares of the closed-end fund’s stock after acquiring an additional 852 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.15% of Gamco Investors worth $441,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of GBL. Wells Fargo & Company MN grew its holdings in Gamco Investors by 2.1% during the first quarter. Wells Fargo & Company MN now owns 4,584 shares of the closed-end fund’s stock valued at $135,000 after purchasing an additional 96 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new position in Gamco Investors during the second quarter valued at approximately $201,000. New York State Common Retirement Fund grew its holdings in Gamco Investors by 18.3% during the second quarter. New York State Common Retirement Fund now owns 9,348 shares of the closed-end fund’s stock valued at $277,000 after purchasing an additional 1,448 shares during the last quarter. Cigna Investments Inc. New acquired a new position in Gamco Investors during the second quarter valued at approximately $283,000. Finally, Beach Investment Management LLC. acquired a new position in Gamco Investors during the second quarter valued at approximately $352,000. 25.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Gamco Investors, Inc. (NYSE:GBL) opened at $28.15 on Wednesday. The stock has a market cap of $825.27, a price-to-earnings ratio of 10.00 and a beta of 1.04. The company has a debt-to-equity ratio of -1.95, a current ratio of 1.67 and a quick ratio of 0.90. Gamco Investors, Inc. has a 52 week low of $27.55 and a 52 week high of $33.55.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 27th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.08 annualized dividend and a dividend yield of 0.28%. Gamco Investors’s payout ratio is 2.50%.
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In other news, insider Kieran Caterina sold 2,325 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $29.47, for a total value of $68,517.75. Following the sale, the insider now owns 5,242 shares in the company, valued at $154,481.74. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 80.02% of the company’s stock.
Separately, BidaskClub upgraded Gamco Investors from a “sell” rating to a “hold” rating in a report on Monday, July 24th.
About Gamco Investors
GAMCO Investors, Inc is a holding company. The Company is a provider of investment advisory services to open and closed-end funds, institutional and private wealth management investors principally in the United States. The Company operates through the investment advisory and asset management business segment.
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