UBS Group AG lessened its position in shares of Mercury General Corporation (NYSE:MCY – Free Report) by 7.2% in the 4th quarter, HoldingsChannel reports. The fund owned 129,265 shares of the insurance provider’s stock after selling 10,102 shares during the period. UBS Group AG’s holdings in Mercury General were worth $12,159,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of MCY. Royal Bank of Canada raised its stake in shares of Mercury General by 58.8% during the 1st quarter. Royal Bank of Canada now owns 54,312 shares of the insurance provider’s stock worth $3,036,000 after acquiring an additional 20,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Mercury General by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,935 shares of the insurance provider’s stock worth $891,000 after buying an additional 702 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Mercury General by 8.5% in the first quarter. Millennium Management LLC now owns 111,327 shares of the insurance provider’s stock worth $6,223,000 after buying an additional 8,742 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Mercury General by 1.7% in the first quarter. Empowered Funds LLC now owns 10,923 shares of the insurance provider’s stock worth $611,000 after buying an additional 185 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Mercury General by 194.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,209 shares of the insurance provider’s stock worth $81,000 after buying an additional 798 shares during the last quarter. Institutional investors own 42.39% of the company’s stock.
Analyst Ratings Changes
A number of research firms have issued reports on MCY. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Mercury General in a report on Thursday, January 22nd. Wall Street Zen raised shares of Mercury General from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Finally, Zacks Research cut shares of Mercury General from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Mercury General has an average rating of “Buy” and a consensus price target of $100.00.
Mercury General Trading Down 0.5%
NYSE MCY opened at $98.09 on Friday. The company has a fifty day simple moving average of $92.67 and a two-hundred day simple moving average of $90.58. The stock has a market cap of $5.43 billion, a P/E ratio of 6.47 and a beta of 0.92. Mercury General Corporation has a 12-month low of $59.01 and a 12-month high of $102.37. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.22.
Mercury General (NYSE:MCY – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $1.35. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.46 billion. Mercury General had a net margin of 13.68% and a return on equity of 32.94%. On average, analysts forecast that Mercury General Corporation will post 9 earnings per share for the current year.
Mercury General Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be paid a $0.3175 dividend. The ex-dividend date is Thursday, June 11th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.3%. Mercury General’s dividend payout ratio is presently 8.37%.
Mercury General Company Profile
Mercury General Corporation is a holding company headquartered in Los Angeles, California, that underwrites and markets property and casualty insurance products through its principal subsidiary, Mercury Insurance Company. Established in 1961, the company has built a reputation for offering a broad range of personal and commercial lines, with a focus on automobile coverage. Mercury General operates in key U.S. markets, deploying a mix of independent agents and direct distribution channels to serve policyholders.
The company’s product portfolio includes personal automobile insurance, homeowners and renters policies, as well as commercial automobile, business liability and umbrella insurance.
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