Mercury General Co. (NYSE:MCY) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lessened its holdings in shares of Mercury General Co. (NYSE:MCY) by 66.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,042 shares of the insurance provider’s stock after selling 2,102 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Mercury General were worth $55,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC increased its position in Mercury General by 962.3% during the 2nd quarter. CWM LLC now owns 563 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 510 shares in the last quarter. National Bank of Canada FI acquired a new stake in Mercury General during the 2nd quarter worth approximately $32,000. Blue Trust Inc. increased its position in Mercury General by 8,262.5% during the 2nd quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 661 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in Mercury General during the 2nd quarter worth approximately $64,000. Finally, Quarry LP increased its position in Mercury General by 112.0% during the 2nd quarter. Quarry LP now owns 1,215 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 642 shares in the last quarter. Institutional investors and hedge funds own 42.39% of the company’s stock.

Mercury General Stock Up 2.8 %

MCY opened at $65.09 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.31 and a current ratio of 0.31. Mercury General Co. has a 1 year low of $27.46 and a 1 year high of $67.11. The firm has a 50 day moving average price of $61.53 and a 200 day moving average price of $56.62. The company has a market cap of $3.60 billion, a PE ratio of 16.73 and a beta of 0.81.

Mercury General (NYSE:MCY) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.29. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.33 billion. Mercury General had a net margin of 6.36% and a return on equity of 14.91%. During the same period in the prior year, the firm earned ($0.47) earnings per share. Sell-side analysts expect that Mercury General Co. will post 4 earnings per share for the current year.

Mercury General Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.3175 per share. The ex-dividend date was Thursday, September 12th. This represents a $1.27 dividend on an annualized basis and a yield of 1.95%. Mercury General’s dividend payout ratio (DPR) is presently 32.65%.

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.