Assenagon Asset Management S.A. increased its position in Mercury General Co. (NYSE:MCY – Free Report) by 607.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,427 shares of the insurance provider’s stock after acquiring an additional 184,121 shares during the quarter. Assenagon Asset Management S.A. owned about 0.39% of Mercury General worth $13,505,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC increased its stake in shares of Mercury General by 962.3% in the second quarter. CWM LLC now owns 563 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 510 shares during the period. National Bank of Canada FI bought a new position in Mercury General in the 2nd quarter worth approximately $32,000. Blue Trust Inc. lifted its holdings in shares of Mercury General by 8,262.5% during the second quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock worth $35,000 after buying an additional 661 shares during the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of Mercury General in the second quarter valued at approximately $64,000. Finally, Quarry LP boosted its position in shares of Mercury General by 112.0% in the second quarter. Quarry LP now owns 1,215 shares of the insurance provider’s stock valued at $65,000 after acquiring an additional 642 shares during the period. Institutional investors and hedge funds own 42.39% of the company’s stock.
Mercury General Trading Down 1.4 %
Shares of MCY stock opened at $67.04 on Monday. The firm has a market capitalization of $3.71 billion, a P/E ratio of 11.62 and a beta of 0.81. Mercury General Co. has a 1 year low of $29.55 and a 1 year high of $69.00. The firm’s fifty day simple moving average is $63.32 and its 200 day simple moving average is $58.27. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.35.
Mercury General Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.89%. Mercury General’s dividend payout ratio is currently 22.01%.
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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