Allspring Global Investments Holdings LLC Has $2.36 Million Stock Position in Mercury General Co. (NYSE:MCY)

Allspring Global Investments Holdings LLC raised its position in Mercury General Co. (NYSE:MCY) by 29.8% in the third quarter, HoldingsChannel reports. The fund owned 37,389 shares of the insurance provider’s stock after purchasing an additional 8,578 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Mercury General were worth $2,355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Mercury General by 1.5% in the 1st 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 in the last quarter. Dimensional Fund Advisors LP increased its stake 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 purchasing an additional 88,954 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in 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 buying an additional 11,242 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Mercury General in the second quarter valued at $8,492,000. Finally, Panagora Asset Management Inc. grew its holdings in shares of Mercury General by 44.7% during the second quarter. Panagora Asset Management Inc. now owns 147,839 shares of the insurance provider’s stock valued at $7,856,000 after buying an additional 45,671 shares during the last quarter. Institutional investors own 42.39% of the company’s stock.

Mercury General Trading Up 0.8 %

NYSE:MCY opened at $68.40 on Wednesday. Mercury General Co. has a one year low of $29.74 and a one year high of $69.00. The company has a market cap of $3.79 billion, a PE ratio of 11.85 and a beta of 0.81. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a 50-day moving average of $63.62 and a 200-day moving average of $58.51.

Mercury General (NYSE:MCY) last issued 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 firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. Mercury General had a return on equity of 14.91% and a net margin of 6.36%. During the same period in the previous year, the company posted ($0.47) EPS. As a group, equities research analysts expect that Mercury General Co. will post 4 EPS for the current fiscal year.

About Mercury General

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.