Bank of New York Mellon Corp increased its holdings in shares of Gamco Investors Inc (NYSE:GBL) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,602 shares of the closed-end fund’s stock after buying an additional 3,577 shares during the quarter. Bank of New York Mellon Corp owned 0.26% of Gamco Investors worth $2,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in Gamco Investors by 8.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 165,287 shares of the closed-end fund’s stock worth $4,919,000 after buying an additional 13,430 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Gamco Investors during the 3rd quarter valued at about $235,000. Wells Fargo & Company MN grew its stake in Gamco Investors by 61.0% during the 3rd quarter. Wells Fargo & Company MN now owns 4,966 shares of the closed-end fund’s stock valued at $148,000 after purchasing an additional 1,881 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Gamco Investors by 219.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,794 shares of the closed-end fund’s stock valued at $113,000 after purchasing an additional 2,606 shares during the last quarter. Hedge funds and other institutional investors own 18.27% of the company’s stock.
Gamco Investors stock opened at $25.36 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.34 and a debt-to-equity ratio of -0.41. The stock has a market cap of $739.56, a price-to-earnings ratio of 8.96 and a beta of 1.08. Gamco Investors Inc has a fifty-two week low of $23.97 and a fifty-two week high of $32.60.
Gamco Investors (NYSE:GBL) last posted its quarterly earnings results on Tuesday, February 6th. The closed-end fund reported $0.78 earnings per share for the quarter. The business had revenue of $98.67 million for the quarter. Gamco Investors had a negative return on equity of 72.20% and a net margin of 21.58%.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 27th. Shareholders of record on Tuesday, March 13th were paid a dividend of $0.02 per share. The ex-dividend date was Monday, March 12th. This represents a $0.08 annualized dividend and a yield of 0.32%.
Separately, ValuEngine downgraded Gamco Investors from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd.
ILLEGAL ACTIVITY NOTICE: “Gamco Investors Inc (GBL) Shares Bought by Bank of New York Mellon Corp” was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The original version of this report can be accessed at https://ledgergazette.com/2018/04/17/gamco-investors-inc-gbl-shares-bought-by-bank-of-new-york-mellon-corp.html.
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.
Receive News & Ratings for Gamco Investors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gamco Investors and related companies with MarketBeat.com's FREE daily email newsletter.