Tudor Investment Corp ET AL Has $1.63 Million Stake in Mercury General Corporation $MCY

Tudor Investment Corp ET AL reduced its stake in shares of Mercury General Corporation (NYSE:MCY) by 35.0% in the 3rd quarter, Holdings Channel reports. The firm owned 19,264 shares of the insurance provider’s stock after selling 10,375 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Mercury General were worth $1,633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Mercury General in the third quarter valued at about $34,000. Jones Financial Companies Lllp lifted its stake in shares of Mercury General by 236.0% in the third quarter. Jones Financial Companies Lllp now owns 457 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 321 shares during the period. Caitlin John LLC acquired a new position in shares of Mercury General in the third quarter worth approximately $41,000. Allworth Financial LP boosted its holdings in Mercury General by 18.6% in the third quarter. Allworth Financial LP now owns 753 shares of the insurance provider’s stock valued at $64,000 after acquiring an additional 118 shares during the last quarter. Finally, State of Wyoming bought a new stake in Mercury General in the third quarter valued at approximately $72,000. 42.39% of the stock is owned by institutional investors and hedge funds.

Mercury General Stock Down 0.0%

Shares of Mercury General stock opened at $85.98 on Monday. The stock’s 50-day moving average is $89.39 and its 200 day moving average is $87.50. Mercury General Corporation has a one year low of $47.06 and a one year high of $100.06. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 8.80 and a beta of 0.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.42 and a quick ratio of 0.42.

Mercury General (NYSE:MCY) last issued its earnings results on Tuesday, February 17th. The insurance provider reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $1.10. Mercury General had a return on equity of 20.74% and a net margin of 9.03%.The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.37 billion. Equities research analysts anticipate that Mercury General Corporation will post -0.5 EPS for the current year.

Mercury General Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, March 12th. Mercury General’s payout ratio is presently 13.00%.

Analyst Upgrades and Downgrades

MCY has been the subject of several analyst reports. Wall Street Zen upgraded shares of Mercury General from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Zacks Research raised shares of Mercury General from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Mercury General in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, Mercury General has a consensus rating of “Strong Buy” and a consensus target price of $100.00.

Mercury General Company Profile

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.