Farther Finance Advisors LLC Buys 2,051 Shares of Mercury General Co. (NYSE:MCY)

Farther Finance Advisors LLC boosted its stake in Mercury General Co. (NYSE:MCY) by 1,753.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,168 shares of the insurance provider’s stock after purchasing an additional 2,051 shares during the period. Farther Finance Advisors LLC’s holdings in Mercury General were worth $137,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MCY. CWM LLC lifted its stake in shares of Mercury General by 962.3% in the 2nd quarter. CWM LLC now owns 563 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 510 shares during the last quarter. National Bank of Canada FI acquired a new position in Mercury General in the 2nd quarter worth about $32,000. Allworth Financial LP raised its position in Mercury General by 1,190.5% in the third quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. raised its position in Mercury General by 8,262.5% in the second quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 661 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of Mercury General during the second quarter valued at about $64,000. Institutional investors and hedge funds own 42.39% of the company’s stock.

Mercury General Stock Performance

Mercury General stock opened at $73.85 on Monday. The business has a 50 day moving average of $64.63 and a 200-day moving average of $59.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.33 and a quick ratio of 0.33. Mercury General Co. has a 1 year low of $35.47 and a 1 year high of $74.19. The company has a market capitalization of $4.09 billion, a P/E ratio of 7.32 and a beta of 0.81.

Mercury General (NYSE:MCY) last released its quarterly 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 firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.37 billion. Mercury General had a net margin of 10.18% and a return on equity of 18.04%. During the same quarter last year, the firm earned $1.14 earnings per share. On average, equities research analysts predict that Mercury General Co. will post 6.35 earnings per share for the current year.

Mercury General Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Thursday, December 12th will be paid a $0.317 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.27 annualized dividend and a dividend yield of 1.72%. Mercury General’s payout ratio is 12.59%.

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.