Janney Montgomery Scott LLC Sells 326 Shares of Mercury General Co. (NYSE:MCY)

Janney Montgomery Scott LLC trimmed its position in Mercury General Co. (NYSE:MCY) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,611 shares of the insurance provider’s stock after selling 326 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Mercury General were worth $506,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MCY. Point72 Asset Management L.P. bought a new position in Mercury General in the third quarter valued at approximately $13,068,000. Assenagon Asset Management S.A. grew its stake in shares of Mercury General by 607.5% during the third quarter. Assenagon Asset Management S.A. now owns 214,427 shares of the insurance provider’s stock worth $13,505,000 after buying an additional 184,121 shares during the last quarter. Phase 2 Partners LLC grew its stake in shares of Mercury General by 142.1% during the third quarter. Phase 2 Partners LLC now owns 273,955 shares of the insurance provider’s stock worth $17,254,000 after buying an additional 160,808 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Mercury General during the third quarter worth $8,243,000. Finally, Barclays PLC grew its stake in shares of Mercury General by 319.9% during the third quarter. Barclays PLC now owns 46,557 shares of the insurance provider’s stock worth $2,931,000 after buying an additional 35,470 shares during the last quarter. 42.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Mercury General from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 26th.

Mercury General Price Performance

Shares of NYSE:MCY opened at $49.94 on Monday. The firm has a market cap of $2.77 billion, a PE ratio of 4.95 and a beta of 0.85. The firm’s fifty day moving average is $61.32 and its 200-day moving average is $63.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.33 and a current ratio of 0.33. Mercury General Co. has a 52 week low of $38.47 and a 52 week high of $80.72.

Insider Transactions at Mercury General

In other news, VP Heidi C. Sullivan sold 1,076 shares of Mercury General stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $77.28, for a total transaction of $83,153.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 35.50% of the stock is owned by company insiders.

About Mercury General

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.