Prudential Financial Inc.lowered its stake in shares of Mercury General Co.(NYSE:MCY) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission.The institutional investor owned 30,747 shares of the insurance provider’s stock after selling 3,799 shares during the quarter.Prudential Financial Inc.
owned about 0.06% of Mercury General worth $1,498,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company.State Street Corp increased its holdings in shares of Mercury General by 0.4% during the third quarter.State Street Corp now owns 1,069,124 shares of the insurance provider’s stock valued at $59,743,000 after acquiring an additional 4,337 shares in the last quarter.Absher Wealth Management LLC acquired a new position in shares of Mercury General during the fourth quarter valued at about $17,484,000.Charles Schwab Investment Management Inc.
increased its holdings in shares of Mercury General by 4.8% during the fourth quarter.Charles Schwab Investment Management Inc.now owns 316,851 shares of the insurance provider’s stock valued at $15,441,000 after acquiring an additional 14,648 shares in the last quarter.First Trust Advisors LP increased its holdings in shares of Mercury General by 210.1% during the fourth quarter.First Trust Advisors LP now owns 236,148 shares of the insurance provider’s stock valued at $11,507,000 after acquiring an additional 159,989 shares in the last quarter.
Finally, California Public Employees Retirement System increased its holdings in shares of Mercury General by 97.8% during the fourth quarter.California Public Employees Retirement System now owns 127,870 shares of the insurance provider’s stock valued at $6,231,000 after acquiring an additional 63,209 shares in the last quarter.Hedge funds and other institutional investors own 43.42% of the company’s stock.
Get Mercury General alerts: NYSE MCY traded up $0.58 during trading hours on Friday, reaching $35.50.
The stock had a trading volume of 429,592 shares, 369,434.The stock has a fifty day moving average of $46.08 and a 200 day moving average of $49.65.The stock has a market cap of $1.93 billion, a P/E ratio of 6.15, a price-to-earnings-growth ratio of 0.44 and a beta of 0.38.Mercury General Co.has a 52-week low of $34.42 and a 52-week high of $65.22.The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.44 and a current ratio of 0.44.
Mercury General (NYSE:MCY) last issued its earnings results on Monday, February 10th.
The insurance provider reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03.The firm had revenue of $896.10 million for the quarter, compared to analyst estimates of $884.63 million.Mercury General had a return on equity of 8.13% and a net margin of 8.06%.Mercury General’s revenue for the quarter was up 5.3% on a year-over-year basis.
During the same quarter in the prior year, the firm earned ($0.26) earnings per share.On average, equities research analysts forecast that Mercury General Co.will post 3.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st.Investors of record on Tuesday, March 17th will be given a $0.63 dividend.
The ex-dividend date of this dividend is Monday, March 16th.This represents a $2.52 dividend on an annualized basis and a yield of 7.10%.Mercury General’s dividend payout ratio is currently 96.92%.
In other news, Chairman George Joseph bought 75,419 shares of the company’s stock in a transaction that occurred on Friday, March 13th.
The shares were purchased at an average price of $38.93 per share, for a total transaction of $2,936,061.67.Following the completion of the transaction, the chairman now directly owns 18,884,449 shares in the company, valued at $735,171,599.57.The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link .34.20% of the stock is owned by corporate insiders.
Separately, Zacks Investment Research downgraded shares of Mercury General from a “hold” rating to a “strong sell” rating in a report on Thursday, February 13th.
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, fire, and umbrella insurance.Its automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners’ insurance products cover dwelling, liability, personal property, fire, and other hazards.
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