Bank & Trust Co Sells 442 Shares of Mercury General Co. (NYSE:MCY)

Bank & Trust Co lessened its position in Mercury General Co. (NYSE:MCY) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,224 shares of the insurance provider’s stock after selling 442 shares during the quarter. Mercury General comprises about 1.4% of Bank & Trust Co’s investment portfolio, making the stock its 17th biggest position. Bank & Trust Co’s holdings in Mercury General were worth $1,677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in shares of Mercury General by 132.3% in the third quarter. Victory Capital Management Inc. now owns 27,917 shares of the insurance provider’s stock worth $1,758,000 after purchasing an additional 15,898 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Mercury General by 2.5% during the third quarter. Geode Capital Management LLC now owns 623,460 shares of the insurance provider’s stock worth $39,273,000 after buying an additional 15,264 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Mercury General by 20.5% in the second quarter. American Century Companies Inc. now owns 52,688 shares of the insurance provider’s stock valued at $2,800,000 after acquiring an additional 8,976 shares during the period. Franklin Resources Inc. grew its stake in shares of Mercury General by 6.3% in the third quarter. Franklin Resources Inc. now owns 17,312 shares of the insurance provider’s stock worth $1,139,000 after acquiring an additional 1,024 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Mercury General by 1,753.0% during the third quarter. Farther Finance Advisors LLC now owns 2,168 shares of the insurance provider’s stock worth $137,000 after acquiring an additional 2,051 shares during the period. Institutional investors and hedge funds own 42.39% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Mercury General

In related news, VP Heidi C. Sullivan sold 1,076 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $77.28, for a total value of $83,153.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 35.50% of the company’s stock.

Mercury General Price Performance

NYSE MCY traded up $0.03 on Tuesday, reaching $65.01. The company’s stock had a trading volume of 55,621 shares, compared to its average volume of 184,868. Mercury General Co. has a 52 week low of $37.08 and a 52 week high of $80.72. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.31. The firm has a market cap of $3.60 billion, a PE ratio of 6.44 and a beta of 0.87. The business has a 50-day moving average price of $71.98 and a 200 day moving average price of $64.42.

Mercury General (NYSE:MCY) last issued its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $1.39. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. During the same period in the prior year, the firm posted $1.14 EPS. Sell-side analysts expect that Mercury General Co. will post 6.35 EPS for the current year.

Mercury General Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Thursday, December 12th were given a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, December 12th. Mercury General’s dividend payout ratio (DPR) is currently 12.59%.

Mercury General 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.