US Bancorp DE Buys 9,222 Shares of Mercury General Co. (NYSE:MCY)

US Bancorp DE increased its position in shares of Mercury General Co. (NYSE:MCYFree Report) by 135.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,039 shares of the insurance provider’s stock after acquiring an additional 9,222 shares during the period. US Bancorp DE’s holdings in Mercury General were worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC boosted its position in shares of Mercury General by 5,212.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,700 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 1,668 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Mercury General during the 4th quarter worth $210,000. Victory Capital Management Inc. bought a new position in Mercury General in the fourth quarter valued at $228,000. Diversified Trust Co purchased a new stake in Mercury General during the fourth quarter valued at about $278,000. Finally, GAM Holding AG bought a new stake in Mercury General during the fourth quarter worth about $373,000. 42.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Mercury General from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th.

View Our Latest Stock Report on MCY

Mercury General Price Performance

Shares of Mercury General stock opened at $54.90 on Friday. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 14.11 and a beta of 0.84. The company has a fifty day moving average of $54.69 and a 200-day moving average of $46.41. Mercury General Co. has a 52-week low of $27.27 and a 52-week high of $59.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.30.

Mercury General (NYSE:MCYGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.63. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. Mercury General had a net margin of 4.48% and a return on equity of 9.85%. Equities research analysts expect that Mercury General Co. will post 2.9 EPS for the current year.

Mercury General Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be given a $0.3175 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.27 annualized dividend and a yield of 2.31%. This is an increase from Mercury General’s previous quarterly dividend of $0.32. Mercury General’s payout ratio is presently 32.65%.

Mercury General Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Mercury General (NYSE:MCY)

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