Mercury General Co. (NYSE:MCY) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in Mercury General Co. (NYSE:MCY) by 11.4% during the third quarter, Holdings Channel reports. The fund owned 46,060 shares of the insurance provider’s stock after selling 5,913 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Mercury General were worth $2,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Glenmede Trust Co. NA acquired a new position in shares of Mercury General in the third quarter worth about $225,000. BNP Paribas Financial Markets raised its holdings in Mercury General by 1.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 47,882 shares of the insurance provider’s stock worth $3,016,000 after purchasing an additional 481 shares during the period. FMR LLC boosted its position in Mercury General by 463.2% during the third quarter. FMR LLC now owns 5,181 shares of the insurance provider’s stock worth $326,000 after purchasing an additional 4,261 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Mercury General in the third quarter valued at approximately $732,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Mercury General in the third quarter valued at approximately $933,000. Hedge funds and other institutional investors own 42.39% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Mercury General from a “buy” rating to a “strong-buy” rating in a research report on Tuesday.

Insider Transactions at Mercury General

In related news, VP Heidi C. Sullivan sold 1,076 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $77.28, for a total transaction of $83,153.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 35.50% of the company’s stock.

Mercury General Stock Up 2.1 %

NYSE MCY opened at $73.18 on Friday. Mercury General Co. has a one year low of $36.96 and a one year high of $80.72. The company has a market cap of $4.05 billion, a P/E ratio of 7.25 and a beta of 0.84. The business has a fifty day moving average price of $71.44 and a 200 day moving average price of $62.70. 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 (NYSE:MCY) last issued its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $1.39. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the company earned $1.14 EPS. Research analysts anticipate that Mercury General Co. will post 6.35 EPS for the current fiscal year.

Mercury General Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Thursday, December 12th will be given a $0.317 dividend. This represents a $1.27 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, December 12th. Mercury General’s dividend payout ratio is currently 12.59%.

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.