Cubist Systematic Strategies LLC Sells 4,830 Shares of Mercury General Co. (NYSE:MCY)

Cubist Systematic Strategies LLC cut its holdings in Mercury General Co. (NYSE:MCY) by 14.7% during the second quarter, HoldingsChannel reports. The firm owned 27,967 shares of the insurance provider’s stock after selling 4,830 shares during the period. Cubist Systematic Strategies LLC’s holdings in Mercury General were worth $1,486,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. CWM LLC increased its position in Mercury General by 962.3% in the 2nd quarter. CWM LLC now owns 563 shares of the insurance provider’s stock worth $30,000 after buying an additional 510 shares during the period. National Bank of Canada FI acquired a new position in Mercury General during the 2nd quarter valued at $32,000. Blue Trust Inc. boosted its holdings in Mercury General by 8,262.5% in the 2nd quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 661 shares during the period. FSC Wealth Advisors LLC acquired a new stake in Mercury General in the 2nd quarter worth $64,000. Finally, Covestor Ltd increased its holdings in shares of Mercury General by 20.8% during the 1st quarter. Covestor Ltd now owns 1,571 shares of the insurance provider’s stock worth $81,000 after purchasing an additional 271 shares during the period. Institutional investors and hedge funds own 42.39% of the company’s stock.

Mercury General Stock Up 0.5 %

NYSE MCY opened at $63.32 on Wednesday. Mercury General Co. has a twelve month low of $27.30 and a twelve month high of $67.11. The stock has a market cap of $3.51 billion, a PE ratio of 16.28 and a beta of 0.81. The firm has a 50-day simple moving average of $61.11 and a 200 day simple moving average of $56.34. 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 (NYSE:MCY) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.29. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.33 billion. Mercury General had a return on equity of 14.91% and a net margin of 6.36%. During the same quarter last year, the company earned ($0.47) EPS. On average, research analysts forecast that Mercury General Co. will post 4 EPS for the current year.

Mercury General Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, September 12th. Mercury General’s payout ratio is 32.65%.

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.