Precision Wealth Strategies LLC Takes $424,000 Position in Mercury General Co. (NYSE:MCY)

Precision Wealth Strategies LLC purchased a new stake in shares of Mercury General Co. (NYSE:MCY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,380 shares of the insurance provider's stock, valued at approximately $424,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Mercury General by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 623,460 shares of the insurance provider's stock valued at $39,273,000 after acquiring an additional 15,264 shares during the period. Phase 2 Partners LLC boosted its holdings in shares of Mercury General by 142.1% in the 3rd quarter. Phase 2 Partners LLC now owns 273,955 shares of the insurance provider's stock valued at $17,254,000 after buying 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 3rd quarter. Assenagon Asset Management S.A. now owns 214,427 shares of the insurance provider's stock valued at $13,505,000 after buying an additional 184,121 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Mercury General in the 3rd quarter valued at $13,068,000. Finally, Hennessy Advisors Inc. raised its position 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 buying an additional 12,300 shares during the last quarter. Institutional investors and hedge funds own 42.39% of the company's stock.

Insiders Place Their Bets

In other news, VP Heidi C. Sullivan sold 1,076 shares of Mercury General stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 SEC, which is accessible through this link. 35.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Mercury General from a "strong-buy" rating to a "buy" rating in a report on Thursday, December 26th.

Mercury General Trading Up 1.1 %

Shares of Mercury General stock traded up $0.53 during mid-day trading on Wednesday, hitting $49.88. 234,023 shares of the stock were exchanged, compared to its average volume of 1,062,741. Mercury General Co. has a twelve month low of $38.28 and a twelve month high of $80.72. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 4.95 and a beta of 0.85. The company has a 50-day simple moving average of $63.03 and a 200 day simple moving average of $64.09. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.31.

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.