UBS Group AG Lowers Stock Holdings in Mercury General Corporation $MCY

UBS Group AG trimmed its stake in Mercury General Corporation (NYSE:MCY) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,265 shares of the insurance provider’s stock after selling 10,102 shares during the period. UBS Group AG owned about 0.23% of Mercury General worth $12,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in MCY. Financial Management Professionals Inc. purchased a new stake in Mercury General in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Mercury General in the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp lifted its position in shares of Mercury General by 236.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 457 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 321 shares during the period. Caitlin John LLC purchased a new stake in shares of Mercury General in the 3rd quarter worth approximately $41,000. Finally, Allworth Financial LP lifted its position in shares of Mercury General by 18.6% in the 3rd quarter. Allworth Financial LP now owns 753 shares of the insurance provider’s stock worth $64,000 after purchasing an additional 118 shares during the period. 42.39% of the stock is owned by hedge funds and other institutional investors.

Mercury General Price Performance

Shares of MCY opened at $98.09 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.44 and a current ratio of 0.44. The stock has a market capitalization of $5.43 billion, a PE ratio of 6.47 and a beta of 0.92. The company has a 50 day moving average price of $92.67 and a 200-day moving average price of $90.58. Mercury General Corporation has a fifty-two week low of $59.01 and a fifty-two week high of $102.37.

Mercury General (NYSE:MCY) last posted its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.50 EPS for the quarter, topping the consensus estimate of $2.15 by $1.35. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.46 billion. Mercury General had a net margin of 13.68% and a return on equity of 32.94%. Equities analysts predict that Mercury General Corporation will post 9 earnings per share for the current fiscal year.

Mercury General Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, June 11th. Mercury General’s payout ratio is 8.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Zacks Research cut shares of Mercury General from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Mercury General in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Mercury General from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $100.00.

About Mercury General

Mercury General Corporation is a holding company headquartered in Los Angeles, California, that underwrites and markets property and casualty insurance products through its principal subsidiary, Mercury Insurance Company. Established in 1961, the company has built a reputation for offering a broad range of personal and commercial lines, with a focus on automobile coverage. Mercury General operates in key U.S. markets, deploying a mix of independent agents and direct distribution channels to serve policyholders.

The company’s product portfolio includes personal automobile insurance, homeowners and renters policies, as well as commercial automobile, business liability and umbrella insurance.