Absher Wealth Management LLC Sells 11,299 Shares of Mercury General Co. (NYSE:MCY)

Absher Wealth Management LLC trimmed its holdings in shares of Mercury General Co. (NYSE:MCY) by 28.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,215 shares of the insurance provider’s stock after selling 11,299 shares during the quarter. Absher Wealth Management LLC’s holdings in Mercury General were worth $1,876,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Mercury General by 2.5% in the 3rd 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 period. Phase 2 Partners LLC raised its stake in shares of Mercury General by 142.1% during the third quarter. Phase 2 Partners LLC now owns 273,955 shares of the insurance provider’s stock valued at $17,254,000 after acquiring an additional 160,808 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Mercury General by 607.5% in the third quarter. Assenagon Asset Management S.A. now owns 214,427 shares of the insurance provider’s stock valued at $13,505,000 after purchasing an additional 184,121 shares during the period. Point72 Asset Management L.P. bought a new position in Mercury General in the third quarter worth approximately $13,068,000. Finally, Hennessy Advisors Inc. increased its holdings in Mercury General by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 192,300 shares of the insurance provider’s stock worth $12,784,000 after purchasing an additional 12,300 shares during the period. 42.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Mercury General Stock Up 2.1 %

Shares of Mercury General stock opened at $50.41 on Thursday. Mercury General Co. has a 1 year low of $38.28 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. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 5.00 and a beta of 0.85. The firm’s 50-day moving average is $62.46 and its two-hundred day moving average is $63.99.

Insider Activity

In other Mercury General news, VP Heidi C. Sullivan sold 1,076 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 35.50% of the company’s stock.

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.