1 day Ago By ABMN Staff
Raymond James Financial Inc. purchased a new stake in shares of Mercury General Co. ( NYSE:MCY – Free Report ) during the fourth quarter, according to its most recent 13F filing with the SEC.
The institutional investor purchased 39,037 shares of the insurance provider’s stock, valued at approximately $2,595,000. A number of other hedge funds have also bought and sold shares of MCY. Smartleaf Asset Management LLC boosted its holdings in shares of Mercury General by 145.
1% in the fourth quarter. Smartleaf Asset Management LLC now owns 554 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 328 shares during the period. SBI Securities Co.
Ltd. bought a new position in Mercury General in the 4th quarter worth about $44,000. Millstone Evans Group LLC purchased a new position in Mercury General during the 4th quarter valued at about $60,000.
Steward Partners Investment Advisory LLC bought a new stake in shares of Mercury General during the fourth quarter valued at about $68,000. Finally, KBC Group NV lifted its holdings in shares of Mercury General by 58.6% in the fourth quarter.
KBC Group NV now owns 1,299 shares of the insurance provider’s stock worth $86,000 after buying an additional 480 shares in the last quarter. 42.39% of the stock is currently owned by hedge funds and other institutional investors.
Mercury General Stock Performance Shares of MCY opened at $56.29 on Wednesday. Mercury General Co.
has a 12-month low of $44.19 and a 12-month high of $80.72.
The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.
29. The company has a market cap of $3.12 billion, a PE ratio of 6.
66 and a beta of 0.81. The stock has a 50-day moving average price of $54.
28 and a 200-day moving average price of $60.84. Mercury General Increases Dividend The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th.
Shareholders of record on Thursday, March 13th were given a dividend of $0.3175 per share. This is an increase from Mercury General’s previous quarterly dividend of $0.
32. The ex-dividend date was Thursday, March 13th. This represents a $1.
27 dividend on an annualized basis and a yield of 2.26%. Mercury General’s dividend payout ratio (DPR) is presently 15.
03%. Analyst Upgrades and Downgrades MCY has been the subject of several recent analyst reports. Raymond James raised shares of Mercury General from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $70.
00 to $80.00 in a research note on Wednesday, February 12th. StockNews.
com cut shares of Mercury General from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Read Our Latest Analysis on MCY About Mercury General ( Free Report ) 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. Featured Articles Want to see what other hedge funds are holding MCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercury General Co.
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