US Bancorp DE increased its stake in Mercury General Co. (NYSE:MCY – Get Rating) by 134.2% in the third quarter, according to the latest filings with the US Securities and Exchange Commission (SEC). The fund owned his 7,202 shares of insurance company stock after purchasing an additional 4,127 of his shares during the period. US Bancorp DE’s holdings in Mercury General were valued at $205,000 at the end of the most recent quarter.
→ Is this the end of capitalism? (From Porter & Co.)
Many other institutional investors have also recently changed their stock positions. Vanguard Group Inc. increased his Mercury General stock holdings by 1.1% in the first quarter. Vanguard Group Inc. He owns 2,650,133 shares of the insurance company worth $145,758,000 after purchasing an additional 28,478 shares during the previous quarter. BlackRock Inc. increased its stake in Mercury General by 5.3% in the first quarter. BlackRock Inc. now owns 2,534,551 shares of the insurance company valued at $139.401 million after purchasing an additional 126,512 shares in the previous quarter. Dimensional Fund Advisors LP increased its Mercury General shareholding by 0.7% in the first quarter. Dimensional Fund Advisors LP owns 1,449,200 shares of the insurance company valued at $79,708,000 after purchasing an additional 10,457 shares during the previous quarter. State Street Corp increased its ownership of Mercury General stock by 10.9% in the second quarter. State Street Corp now owns 1,413,436 shares of the insurance company worth $62,615,000 after purchasing an additional 138,784 shares last quarter. Finally, Renaissance Technologies LLC increased its holding of Mercury General shares by 3.1% in the second quarter. Renaissance Technologies LLC now owns 1,401,600 shares of the insurance company worth $62,091,000 after purchasing an additional 42,200 shares during the previous quarter. Institutional investors own 42.54% of the company’s shares.
Wall Street analyst opinion
Several research firms have recently commented on MCY. StockNews.com began coverage of Mercury General shares in its report on Wednesday, October 12th. They put a “Hold” rating on the stock. Raymond James upgraded Mercury General’s stock from an “underperform” rating to a “strong buy” rating in a report on Friday, November 4, with a price target he set at $45.00.
Mercury general price performance
MCY shares opened at $34.76 on Friday. The company has an equity ratio of 0.24, a quick ratio of 0.27 and a current ratio of 0.27. Mercury General Co. has a 52-week low of $27.89 and a 52-week high of $56.21. The company has a 50-day moving average of $35.26 and a 200-day moving average of $34.46. The company has a market cap of $1.92 billion, a P/E of -4.05 and a beta of 0.56.
Mercury General (NYSE:MCY – Get Rating) last reported quarterly results on Tuesday, November 1. The insurer reported his earnings per share of $0.28 for the quarter, beating consensus expectations ($0.55) by $0.83. He made $1.04 billion in revenue for the business in the quarter, compared to analyst estimates of $1.05 billion. Mercury General’s net profit margin was 13.43% and return on equity was 3.28%. Research analysts forecast Mercury General Co.’s earnings per share to be minus 1.15 this year.
Mercury General Dividend Announcement
The company recently announced a quarterly dividend, which was paid out on Thursday, December 29th. Shareholders of record on Thursday, December 15 were awarded a dividend of $0.3175 per share. The ex-dividend date was Wednesday, December 14. This represents his $1.27 dividend and his 3.65% yield on an annualized basis. Mercury General’s payout percentage is currently -14.78%.
About Mercury General
Mercury General Corp. operates as an auto insurance broker and agent. The Company is engaged in the placement of personal automobile insurance and offers related property and casualty insurance products to its customers. The Company’s insurance products include private passenger cars and related insurance products such as homeowners, commercial motor vehicles and commercial real estate.
Want to know which other hedge funds hold MCY? Visit HoldingsChannel.com to get the latest Mercury General Co. (NYSE:MCY – Get Rating) 13F filings and insider trading.
This instant news alert was generated by Narrative Science Technology and MarketBeat financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Send any questions or comments about this story to email@example.com.
Before you think about Mercury General, you’ll want to hear this.
MarketBeat tracks Wall Street’s most acclaimed and top performing research analysts and the stocks they recommend to clients every day. MarketBeat has identified five stocks top analysts are quietly whispering to clients to buy now before the broader market catches on…and Mercury General was not on the list. .
Mercury General is currently rated as a ‘strong buy’ among analysts, but the top rated analysts believe these five stocks are better buys.
See 5 stocks here