Bank of New York Mellon Corp Has $20.12 Million Position in Mercury General Co. (NYSE:MCY)

Bank of New York Mellon Corp raised its stake in shares of Mercury General Co. (NYSE:MCY - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 302,660 shares of the insurance provider's stock after purchasing an additional 14,328 shares during the period. Bank of New York Mellon Corp owned 0.55% of Mercury General worth $20,121,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC lifted its position in shares of Mercury General by 12,340.0% during the 3rd quarter. Quest Partners LLC now owns 1,244 shares of the insurance provider's stock worth $78,000 after purchasing an additional 1,234 shares during the last quarter. KBC Group NV lifted its stake in Mercury General by 58.6% during the fourth quarter. KBC Group NV now owns 1,299 shares of the insurance provider's stock worth $86,000 after purchasing an additional 480 shares during the period. Blue Trust Inc. boosted its holdings in Mercury General by 68.9% during the fourth quarter. Blue Trust Inc. now owns 1,944 shares of the insurance provider's stock valued at $122,000 after purchasing an additional 793 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Mercury General by 1,753.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,168 shares of the insurance provider's stock valued at $137,000 after purchasing an additional 2,051 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Mercury General by 113.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,223 shares of the insurance provider's stock worth $140,000 after buying an additional 1,181 shares in the last quarter. 42.39% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

MCY has been the subject of several analyst reports. StockNews.com downgraded shares of Mercury General from a "buy" rating to a "hold" rating in a report on Thursday, February 13th. Raymond James raised Mercury General from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $70.00 to $80.00 in a report on Wednesday, February 12th.

Mercury General Price Performance

NYSE:MCY traded up $0.15 during mid-day trading on Tuesday, reaching $54.06. 448,453 shares of the company were exchanged, compared to its average volume of 361,051. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.29. The stock has a market cap of $2.99 billion, a PE ratio of 6.40 and a beta of 0.80. Mercury General Co. has a 12 month low of $44.19 and a 12 month high of $80.72. The company has a fifty day moving average of $53.50 and a 200 day moving average of $62.95.

Mercury General (NYSE:MCY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.84. Mercury General had a return on equity of 22.54% and a net margin of 8.55%. On average, research analysts anticipate that Mercury General Co. will post -0.5 EPS for the current fiscal year.

Mercury General Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.3175 per share. This is a boost from Mercury General's previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, March 13th. Mercury General's payout ratio is currently 15.03%.

About Mercury General

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.