Mercer Global Advisors Inc. ADV acquired a new position in shares of Mercury General Co. (NYSE:MCY – Get Rating) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,746 shares of the insurance provider's stock, valued at approximately $206,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of Mercury General by 18.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 878,028 shares of the insurance provider's stock valued at $46,588,000 after acquiring an additional 139,559 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Mercury General by 11.2% in the 4th quarter. Invesco Ltd. now owns 1,267,213 shares of the insurance provider's stock valued at $67,238,000 after acquiring an additional 127,915 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Mercury General by 68.8% in the 1st quarter. New York State Common Retirement Fund now owns 123,949 shares of the insurance provider's stock valued at $6,817,000 after acquiring an additional 50,523 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Mercury General by 305.7% in the 4th quarter. Cubist Systematic Strategies LLC now owns 65,738 shares of the insurance provider's stock valued at $3,488,000 after acquiring an additional 49,534 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new stake in shares of Mercury General in the 4th quarter valued at approximately $2,308,000. 40.11% of the stock is currently owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
Separately, TheStreet downgraded Mercury General from a "b" rating to a "c+" rating in a report on Friday, May 6th.
Mercury General Price Performance
Shares of MCY opened at $32.92 on Friday. The company has a market cap of $1.82 billion, a P/E ratio of -4.76 and a beta of 0.39. The stock has a fifty day moving average price of $39.01 and a 200 day moving average price of $47.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.28 and a quick ratio of 0.28. Mercury General Co. has a 12 month low of $31.29 and a 12 month high of $59.10.
Mercury General Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be paid a dividend of $0.3175 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.27 dividend on an annualized basis and a yield of 3.86%. Mercury General's payout ratio is currently -37.41%.
Mercury General Company Profile
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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, fire, and other hazards.
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