Mercury General Co. (NYSE:MCY) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. trimmed its position in shares of Mercury General Co. (NYSE:MCY) by 12.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,969 shares of the insurance provider’s stock after selling 6,657 shares during the quarter. D.A. Davidson & CO. owned approximately 0.09% of Mercury General worth $3,021,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. CWM LLC increased its position in shares of Mercury General by 962.3% during the second quarter. CWM LLC now owns 563 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 510 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Mercury General during the second quarter worth approximately $32,000. Allworth Financial LP increased its position in shares of Mercury General by 1,190.5% during the third quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. increased its position in shares of Mercury General by 8,262.5% during the second quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 661 shares in the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of Mercury General during the second quarter worth approximately $64,000. 42.39% of the stock is currently owned by hedge funds and other institutional investors.

Mercury General Stock Up 0.6 %

Shares of NYSE:MCY opened at $78.85 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $68.41 and a two-hundred day moving average of $61.24. The stock has a market cap of $4.37 billion, a P/E ratio of 7.81 and a beta of 0.81. Mercury General Co. has a 52-week low of $36.37 and a 52-week high of $79.76.

Mercury General (NYSE:MCY) last issued its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $1.39. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. During the same period in the prior year, the business earned $1.14 EPS. On average, research analysts expect that Mercury General Co. will post 6.35 earnings per share for the current year.

Mercury General Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Thursday, December 12th will be issued a $0.317 dividend. This represents a $1.27 annualized dividend and a yield of 1.61%. The ex-dividend date is Thursday, December 12th. Mercury General’s payout ratio is currently 12.59%.

Analysts Set New Price Targets

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

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.