Blue Trust Inc. Purchases 793 Shares of Mercury General Co. (NYSE:MCY)

Blue Trust Inc. boosted its position in Mercury General Co. (NYSE:MCY) by 68.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,944 shares of the insurance provider’s stock after buying an additional 793 shares during the quarter. Blue Trust Inc.’s holdings in Mercury General were worth $122,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Mercury General by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,660 shares of the insurance provider’s stock valued at $832,000 after purchasing an additional 396 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Mercury General in the second quarter valued at approximately $299,000. Handelsbanken Fonder AB bought a new position in Mercury General in the third quarter valued at approximately $205,000. CWM LLC grew its holdings in Mercury General by 115.8% during the 3rd quarter. CWM LLC now owns 1,215 shares of the insurance provider’s stock worth $77,000 after acquiring an additional 652 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in shares of Mercury General by 99.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 27,187 shares of the insurance provider’s stock valued at $1,712,000 after acquiring an additional 13,589 shares during the last quarter. 42.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Mercury General from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 26th.

Mercury General Price Performance

Shares of MCY opened at $51.03 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.31. The stock has a market cap of $2.83 billion, a P/E ratio of 5.06 and a beta of 0.85. The stock’s 50-day moving average price is $61.90 and its two-hundred day moving average price is $63.90. Mercury General Co. has a 1 year low of $38.47 and a 1 year high of $80.72.

Insider Buying and Selling

In related news, VP Heidi C. Sullivan sold 1,076 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $77.28, for a total transaction of $83,153.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 35.50% of the stock is owned by insiders.

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.