Diversified Trust Co lifted its stake in shares of Mercury General Co. (NYSE:MCY – Free Report) by 9.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,909 shares of the insurance provider’s stock after buying an additional 801 shares during the quarter. Diversified Trust Co’s holdings in Mercury General were worth $592,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in Mercury General by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,999,235 shares of the insurance provider’s stock worth $106,237,000 after purchasing an additional 88,954 shares during the period. Geode Capital Management LLC increased its stake in shares of Mercury General by 2.5% during the third quarter. Geode Capital Management LLC now owns 623,460 shares of the insurance provider’s stock valued at $39,273,000 after buying an additional 15,264 shares during the period. Phase 2 Partners LLC raised its holdings in shares of Mercury General by 142.1% in the third quarter. Phase 2 Partners LLC now owns 273,955 shares of the insurance provider’s stock valued at $17,254,000 after acquiring an additional 160,808 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Mercury General by 607.5% in the third quarter. Assenagon Asset Management S.A. now owns 214,427 shares of the insurance provider’s stock worth $13,505,000 after acquiring an additional 184,121 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Mercury General during the 3rd quarter worth about $13,068,000. Institutional investors own 42.39% of the company’s stock.
Mercury General Trading Down 19.8 %
Shares of NYSE:MCY opened at $48.68 on Friday. The business’s 50-day moving average is $71.53 and its 200 day moving average is $64.45. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.33 and a quick ratio of 0.33. Mercury General Co. has a 1 year low of $37.89 and a 1 year high of $80.72. The firm has a market capitalization of $2.70 billion, a P/E ratio of 4.82 and a beta of 0.87.
Mercury General Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Thursday, December 12th were paid a dividend of $0.317 per share. The ex-dividend date was Thursday, December 12th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 2.60%. Mercury General’s payout ratio is currently 12.59%.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered Mercury General from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 26th.
Get Our Latest Stock Analysis on Mercury General
Insider Activity
In related news, VP Heidi C. Sullivan sold 1,076 shares of Mercury General stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $77.28, for a total transaction of $83,153.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 35.50% of the company’s stock.
Mercury General Profile
Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. The company also writes homeowners, commercial automobile, commercial property, mechanical protection, and umbrella insurance products. Its automobile insurance products include collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners insurance products comprise dwelling, liability, personal property, and other coverages.
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