US Bancorp DE Has $680,000 Stock Position in Mercury General Co. (NYSE:MCY)

US Bancorp DE lowered its holdings in shares of Mercury General Co. (NYSE:MCY) by 29.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,793 shares of the insurance provider’s stock after selling 4,491 shares during the quarter. US Bancorp DE’s holdings in Mercury General were worth $680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MCY. Allworth Financial LP boosted its holdings in Mercury General by 1,190.5% in the 3rd quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 500 shares during the period. CWM LLC increased its position in Mercury General by 962.3% in the 2nd quarter. CWM LLC now owns 563 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 510 shares in the last quarter. National Bank of Canada FI acquired a new position in Mercury General during the 2nd quarter worth $32,000. Blue Trust Inc. increased its position in Mercury General by 8,262.5% in 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. Finally, FSC Wealth Advisors LLC acquired a new position in Mercury General in the second quarter valued at approximately $64,000. Institutional investors and hedge funds own 42.39% of the company’s stock.

Mercury General Stock Up 1.7 %

Shares of Mercury General stock opened at $73.85 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.31. The stock has a market cap of $4.09 billion, a PE ratio of 7.32 and a beta of 0.81. The business has a fifty day simple moving average of $64.63 and a 200 day simple moving average of $59.41. Mercury General Co. has a 12 month low of $35.47 and a 12 month high of $74.19.

Mercury General (NYSE:MCY) last posted 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. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. During the same period in the prior year, the business earned $1.14 EPS. Research analysts predict that Mercury General Co. will post 6.35 EPS for the current year.

Mercury General Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.317 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.27 annualized dividend and a yield of 1.72%. Mercury General’s dividend payout ratio (DPR) is presently 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.