Mercury General Co. (NYSE:MCY) Shares Purchased by Allworth Financial LP

Allworth Financial LP lifted its holdings in Mercury General Co. (NYSE:MCY) by 1,190.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 542 shares of the insurance provider’s stock after acquiring an additional 500 shares during the period. Allworth Financial LP’s holdings in Mercury General were worth $34,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MCY. CWM LLC boosted 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 valued at $30,000 after purchasing an additional 510 shares during the period. National Bank of Canada FI acquired a new stake in shares of Mercury General during the second quarter worth $32,000. Blue Trust Inc. raised 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 purchasing an additional 661 shares during the period. FSC Wealth Advisors LLC acquired a new stake in shares of Mercury General in the 2nd quarter worth about $64,000. Finally, Quarry LP increased its holdings in shares of Mercury General by 112.0% in the 2nd quarter. Quarry LP now owns 1,215 shares of the insurance provider’s stock worth $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 Stock Down 2.9 %

MCY stock opened at $65.64 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.33 and a debt-to-equity ratio of 0.31. Mercury General Co. has a fifty-two week low of $35.47 and a fifty-two week high of $73.72. The firm’s 50-day simple moving average is $64.02 and its 200 day simple moving average is $58.76. The stock has a market cap of $3.63 billion, a PE ratio of 6.51 and a beta of 0.81.

Mercury General (NYSE:MCY) last released its quarterly earnings results on Tuesday, October 29th. The insurance provider reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $1.39. Mercury General had a net margin of 10.18% and a return on equity of 18.04%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the firm earned $1.14 EPS. As a group, sell-side analysts predict that Mercury General Co. will post 4 EPS for the current year.

Mercury General Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Thursday, December 12th will be paid a $0.317 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.27 annualized dividend and a dividend yield of 1.93%. Mercury General’s dividend payout ratio is currently 12.59%.

Mercury General Company 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.