SG Americas Securities LLC Decreases Stock Position in Mercury General Co. (NYSE:MCY)

SG Americas Securities LLC trimmed its position in shares of Mercury General Co. (NYSE:MCY) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,230 shares of the insurance provider’s stock after selling 1,335 shares during the period. SG Americas Securities LLC’s holdings in Mercury General were worth $547,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of Mercury General by 1,190.5% during the third quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 500 shares in the last quarter. Quarry LP boosted its holdings in Mercury General by 112.0% in the second quarter. Quarry LP now owns 1,215 shares of the insurance provider’s stock valued at $65,000 after purchasing an additional 642 shares during the last quarter. Blue Trust Inc. grew its stake in Mercury General by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 1,151 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 482 shares in the last quarter. CWM LLC increased its holdings in Mercury General by 115.8% during the 3rd quarter. CWM LLC now owns 1,215 shares of the insurance provider’s stock worth $77,000 after purchasing an additional 652 shares during the last quarter. Finally, Quest Partners LLC raised its position in shares of Mercury General by 12,340.0% in the 3rd quarter. Quest Partners LLC now owns 1,244 shares of the insurance provider’s stock valued at $78,000 after purchasing an additional 1,234 shares in the last quarter. Hedge funds and other institutional investors own 42.39% of the company’s stock.

Mercury General Price Performance

Shares of MCY stock opened at $49.98 on Friday. The firm has a fifty day moving average of $64.17 and a two-hundred day moving average of $64.10. The firm has a market cap of $2.77 billion, a P/E ratio of 4.95 and a beta of 0.87. Mercury General Co. has a 1-year low of $37.89 and a 1-year high of $80.72. 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 results on Tuesday, October 29th. The insurance provider reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $1.39. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the firm earned $1.14 earnings per share. As a group, research analysts anticipate that Mercury General Co. will post 5.05 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Heidi C. Sullivan sold 1,076 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $77.28, for a total transaction of $83,153.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 35.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Mercury General from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 26th.

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.