ArrowMark Colorado Holdings LLC Has $254,000 Holdings in Mercury General Corporation $MCY

ArrowMark Colorado Holdings LLC lessened its holdings in Mercury General Corporation (NYSE:MCY) by 95.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,000 shares of the insurance provider’s stock after selling 57,650 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Mercury General were worth $254,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of Mercury General by 58.8% during the first quarter. Royal Bank of Canada now owns 54,312 shares of the insurance provider’s stock worth $3,036,000 after buying an additional 20,115 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Mercury General by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,935 shares of the insurance provider’s stock valued at $891,000 after buying an additional 702 shares during the period. Millennium Management LLC raised its position in shares of Mercury General by 8.5% in the 1st quarter. Millennium Management LLC now owns 111,327 shares of the insurance provider’s stock worth $6,223,000 after acquiring an additional 8,742 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Mercury General by 1.7% in the 1st quarter. Empowered Funds LLC now owns 10,923 shares of the insurance provider’s stock valued at $611,000 after purchasing an additional 185 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Mercury General by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 666,783 shares of the insurance provider’s stock valued at $44,907,000 after purchasing an additional 12,728 shares in the last quarter. Institutional investors and hedge funds own 42.39% of the company’s stock.

Mercury General Trading Up 1.7%

Mercury General stock opened at $90.47 on Tuesday. The firm’s fifty day moving average price is $89.77 and its 200-day moving average price is $86.85. The stock has a market cap of $5.01 billion, a P/E ratio of 9.26 and a beta of 0.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.42 and a current ratio of 0.42. Mercury General Corporation has a fifty-two week low of $47.06 and a fifty-two week high of $100.06.

Mercury General (NYSE:MCY) last announced its earnings results on Tuesday, February 17th. The insurance provider reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $1.10. Mercury General had a net margin of 9.03% and a return on equity of 20.74%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.37 billion. Equities research analysts forecast that Mercury General Corporation will post -0.5 earnings per share for the current fiscal year.

Mercury General Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 1.4%. The ex-dividend date is Thursday, March 12th. Mercury General’s dividend payout ratio (DPR) is presently 13.00%.

Analyst Ratings Changes

Several analysts have recently commented on MCY shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Mercury General in a research report on Thursday, January 22nd. Zacks Research upgraded Mercury General from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 26th. Finally, Wall Street Zen raised Mercury General from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, Mercury General has an average rating of “Strong Buy” and a consensus price target of $100.00.

About Mercury General

Mercury General Corporation is a holding company headquartered in Los Angeles, California, that underwrites and markets property and casualty insurance products through its principal subsidiary, Mercury Insurance Company. Established in 1961, the company has built a reputation for offering a broad range of personal and commercial lines, with a focus on automobile coverage. Mercury General operates in key U.S. markets, deploying a mix of independent agents and direct distribution channels to serve policyholders.

The company’s product portfolio includes personal automobile insurance, homeowners and renters policies, as well as commercial automobile, business liability and umbrella insurance.