Barclays PLC Has $2.93 Million Stock Holdings in Mercury General Co. (NYSE:MCY)

Barclays PLC increased its position in shares of Mercury General Co. (NYSE:MCY) by 319.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,557 shares of the insurance provider’s stock after buying an additional 35,470 shares during the quarter. Barclays PLC owned about 0.08% of Mercury General worth $2,931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCY. National Bank of Canada FI acquired a new position in shares of Mercury General during the second quarter valued at about $32,000. Allworth Financial LP boosted its stake in Mercury General by 1,190.5% during the 3rd 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. Quarry LP raised its stake in shares of Mercury General by 112.0% in the second quarter. Quarry LP now owns 1,215 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 642 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Mercury General by 72.0% in the third quarter. Blue Trust Inc. now owns 1,151 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 482 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Mercury General by 115.8% in the third quarter. CWM LLC now owns 1,215 shares of the insurance provider’s stock valued at $77,000 after purchasing an additional 652 shares in the last quarter. Institutional investors own 42.39% of the company’s stock.

Mercury General Stock Performance

Shares of MCY stock opened at $68.84 on Wednesday. Mercury General Co. has a one year low of $36.96 and a one year high of $80.72. The company has a market cap of $3.81 billion, a P/E ratio of 6.82 and a beta of 0.84. The firm has a 50-day moving average of $72.06 and a 200-day moving average of $63.47. 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 (NYSE:MCY) last posted its quarterly earnings data on Tuesday, October 29th. The insurance provider reported $2.54 EPS for the quarter, beating the consensus estimate of $1.15 by $1.39. Mercury General had a net margin of 10.18% and a return on equity of 18.04%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the business posted $1.14 EPS. Equities research analysts forecast that Mercury General Co. will post 6.35 EPS for the current fiscal year.

Mercury General Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Thursday, December 12th will be given a $0.317 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.27 annualized dividend and a yield of 1.84%. Mercury General’s dividend payout ratio is currently 12.59%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Mercury General from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th.

Insider Buying and Selling at Mercury General

In related news, VP Heidi C. Sullivan sold 1,076 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $77.28, for a total value of $83,153.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 35.50% of the company’s stock.

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.