Tudor Investment Corp ET AL Sells 10,375 Shares of Mercury General Corporation $MCY

Tudor Investment Corp ET AL reduced its position in Mercury General Corporation (NYSE:MCY) by 35.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,264 shares of the insurance provider’s stock after selling 10,375 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Mercury General were worth $1,633,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP increased its stake in Mercury General by 18.6% in the third quarter. Allworth Financial LP now owns 753 shares of the insurance provider’s stock valued at $64,000 after acquiring an additional 118 shares during the last quarter. Cambria Investment Management L.P. increased its stake in shares of Mercury General by 25.0% in the 3rd quarter. Cambria Investment Management L.P. now owns 9,952 shares of the insurance provider’s stock valued at $844,000 after purchasing an additional 1,989 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Mercury General during the 3rd quarter worth $243,000. Advisory Services Network LLC acquired a new stake in Mercury General in the third quarter valued at about $115,000. Finally, Jacobs Levy Equity Management Inc. grew its position in Mercury General by 3.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 390,810 shares of the insurance provider’s stock valued at $33,133,000 after acquiring an additional 13,701 shares during the last quarter. Institutional investors own 42.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Mercury General from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Wall Street Zen raised shares of Mercury General from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Mercury General in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Strong Buy” and a consensus target price of $100.00.

Mercury General Price Performance

Mercury General stock opened at $85.98 on Monday. The stock has a 50-day moving average price of $89.39 and a two-hundred day moving average price of $87.50. Mercury General Corporation has a 12 month low of $47.06 and a 12 month high of $100.06. The company has a market capitalization of $4.76 billion, a PE ratio of 8.80 and a beta of 0.92. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.24.

Mercury General (NYSE:MCY) last released its quarterly earnings results on Tuesday, February 17th. The insurance provider reported $3.66 earnings per share for the quarter, topping the consensus estimate of $2.56 by $1.10. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Mercury General had a return on equity of 20.74% and a net margin of 9.03%. Analysts expect that Mercury General Corporation will post -0.5 EPS for the current year.

Mercury General Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th were given a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 1.5%. The ex-dividend date was Thursday, March 12th. Mercury General’s dividend payout ratio is 13.00%.

Mercury General Company Profile

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.