Point72 Asia Singapore Pte. Ltd. Reduces Holdings in Mercury General Co. (NYSE:MCY)

Point72 Asia Singapore Pte. Ltd. decreased its position in shares of Mercury General Co. (NYSE:MCY) by 66.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,042 shares of the insurance provider’s stock after selling 2,102 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Mercury General were worth $55,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MCY. Vanguard Group Inc. boosted its position in Mercury General by 1.5% during the first quarter. Vanguard Group Inc. now owns 3,256,765 shares of the insurance provider’s stock worth $168,049,000 after purchasing an additional 48,508 shares during the period. Dimensional Fund Advisors LP raised 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 valued at $106,237,000 after acquiring an additional 88,954 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Mercury General by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 310,333 shares of the insurance provider’s stock worth $16,491,000 after acquiring an additional 11,242 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Mercury General during the second quarter worth $8,492,000. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Mercury General by 44.7% in the second quarter. Panagora Asset Management Inc. now owns 147,839 shares of the insurance provider’s stock worth $7,856,000 after acquiring an additional 45,671 shares during the period. Hedge funds and other institutional investors own 42.39% of the company’s stock.

Mercury General Stock Performance

NYSE:MCY opened at $63.23 on Monday. The business’s fifty day moving average is $60.90 and its 200 day moving average is $56.13. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 16.25 and a beta of 0.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.31 and a current ratio of 0.31. Mercury General Co. has a 52-week low of $27.30 and a 52-week high of $67.11.

Mercury General (NYSE:MCY) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.29. Mercury General had a return on equity of 14.91% and a net margin of 6.36%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the business posted ($0.47) earnings per share. Research analysts predict that Mercury General Co. will post 4 EPS for the current year.

Mercury General Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 2.01%. The ex-dividend date was Thursday, September 12th. Mercury General’s payout ratio is 32.65%.

Mercury General Company 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.