Mercury General Co. (NYSE:MCY) VP Heidi C. Sullivan Sells 1,076 Shares

Mercury General Co. (NYSE:MCY) VP Heidi C. Sullivan sold 1,076 shares of the stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Mercury General Stock Performance

MCY traded down $0.26 during trading on Wednesday, hitting $76.62. The stock had a trading volume of 128,700 shares, compared to its average volume of 236,337. The firm has a market cap of $4.24 billion, a PE ratio of 7.62 and a beta of 0.84. Mercury General Co. has a 12 month low of $36.96 and a 12 month 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 company has a 50 day simple moving average of $69.71 and a 200-day simple moving average of $61.84.

Mercury General (NYSE:MCY) last announced its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 EPS for the quarter, topping the consensus estimate of $1.15 by $1.39. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.37 billion. Mercury General had a net margin of 10.18% and a return on equity of 18.04%. During the same quarter last year, the firm posted $1.14 EPS. Analysts expect that Mercury General Co. will post 6.35 EPS for the current year.

Mercury General Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.317 per share. The ex-dividend date is Thursday, December 12th. This represents a $1.27 annualized dividend and a dividend yield of 1.65%. Mercury General’s dividend payout ratio (DPR) is currently 12.59%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Mercury General from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 28th.

Institutional Trading of Mercury General

Several institutional investors have recently made changes to their positions in MCY. Victory Capital Management Inc. lifted its holdings in Mercury General by 132.3% during the 3rd quarter. Victory Capital Management Inc. now owns 27,917 shares of the insurance provider’s stock valued at $1,758,000 after purchasing an additional 15,898 shares during the last quarter. American Century Companies Inc. raised its stake 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 worth $2,800,000 after acquiring an additional 8,976 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Mercury General by 1,753.0% in 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 last quarter. TD Asset Management Inc bought a new position in shares of Mercury General in the second quarter worth about $515,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Mercury General by 29.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 37,389 shares of the insurance provider’s stock worth $2,355,000 after acquiring an additional 8,578 shares during the last quarter. 42.39% of the stock is currently owned by institutional investors and hedge funds.

Mercury General Company 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.