AlphaCrest Capital Management LLC grew its stake in shares of Mercury General Co. (NYSE:MCY – Get Rating) by 23.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,964 shares of the insurance provider's stock after purchasing an additional 2,048 shares during the period. AlphaCrest Capital Management LLC's holdings in Mercury General were worth $603,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of MCY. Goldman Sachs Group Inc. boosted its stake in shares of Mercury General by 18.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 878,028 shares of the insurance provider's stock valued at $46,588,000 after purchasing an additional 139,559 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Mercury General by 11.2% during the 4th quarter. Invesco Ltd. now owns 1,267,213 shares of the insurance provider's stock valued at $67,238,000 after purchasing an additional 127,915 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Mercury General by 68.8% during 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 purchasing an additional 50,523 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Mercury General by 305.7% during the 4th quarter. Cubist Systematic Strategies LLC now owns 65,738 shares of the insurance provider's stock valued at $3,488,000 after purchasing an additional 49,534 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Mercury General during the fourth quarter worth about $2,308,000. Institutional investors own 40.11% of the company's stock.
Get Mercury General alerts:Mercury General Trading Down 1.3 %
NYSE:MCY opened at $32.48 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $1.80 billion, a P/E ratio of -4.78 and a beta of 0.47. Mercury General Co. has a one year low of $31.29 and a one year high of $58.99. The company's 50-day simple moving average is $39.01 and its 200 day simple moving average is $47.09.
Mercury General Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be issued a $0.3175 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.27 annualized dividend and a yield of 3.91%. Mercury General's dividend payout ratio (DPR) is presently -37.41%.Mercury General 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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