Jennison Associates LLC Cuts Stock Position in Mercury General Co. (NYSE:MCY)

Jennison Associates LLC lowered its holdings in Mercury General Co. (NYSE:MCY) by 9.8% during the 4th quarter, Holdings Channel reports. The firm owned 12,206 shares of the insurance provider’s stock after selling 1,324 shares during the period. Jennison Associates LLC’s holdings in Mercury General were worth $811,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP lifted its position in shares of Mercury General by 1,190.5% during the 3rd quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock valued at $34,000 after buying an additional 500 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Mercury General by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 1,151 shares of the insurance provider’s stock valued at $72,000 after buying an additional 482 shares during the last quarter. CWM LLC lifted its position in shares of Mercury General by 115.8% during the 3rd quarter. CWM LLC now owns 1,215 shares of the insurance provider’s stock valued at $77,000 after buying an additional 652 shares during the last quarter. Quest Partners LLC lifted its position in shares of Mercury General by 12,340.0% during the 3rd quarter. Quest Partners LLC now owns 1,244 shares of the insurance provider’s stock valued at $78,000 after buying an additional 1,234 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Mercury General by 58.6% during the 4th quarter. KBC Group NV now owns 1,299 shares of the insurance provider’s stock valued at $86,000 after buying an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 42.39% of the company’s stock.

Analyst Ratings Changes

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

Mercury General Stock Performance

NYSE:MCY opened at $51.03 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.33 and a current ratio of 0.33. Mercury General Co. has a 52-week low of $38.47 and a 52-week high of $80.72. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 5.06 and a beta of 0.85. The business’s fifty day moving average is $61.90 and its 200 day moving average is $63.90.

Insider Activity at Mercury General

In related news, VP Heidi C. Sullivan sold 1,076 shares of the business’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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 35.50% of the stock is currently owned by corporate 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.