Mercury General Co. (NYSE:MCY) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd decreased its holdings in Mercury General Co. (NYSE:MCY - Free Report) by 54.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,319 shares of the insurance provider's stock after selling 8,903 shares during the period. Quadrature Capital Ltd's holdings in Mercury General were worth $461,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MCY. Victory Capital Management Inc. increased its holdings in Mercury General by 132.3% during the third quarter. Victory Capital Management Inc. now owns 27,917 shares of the insurance provider's stock valued at $1,758,000 after buying an additional 15,898 shares during the last quarter. American Century Companies Inc. increased its position in shares of Mercury General by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 52,688 shares of the insurance provider's stock valued at $2,800,000 after purchasing an additional 8,976 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings 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 worth $137,000 after acquiring an additional 2,051 shares during the last quarter. TD Asset Management Inc bought a new stake in shares of Mercury General during the 2nd quarter worth approximately $515,000. Finally, Allspring Global Investments Holdings LLC grew its holdings 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 purchasing an additional 8,578 shares during the last quarter. Institutional investors own 42.39% of the company's stock.

Mercury General Stock Performance

Shares of NYSE:MCY traded down $1.42 during trading on Tuesday, hitting $72.50. The stock had a trading volume of 125,380 shares, compared to its average volume of 236,551. Mercury General Co. has a 12-month low of $36.96 and a 12-month high of $80.72. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 7.14 and a beta of 0.84. The stock has a 50-day simple moving average of $70.75 and a two-hundred day simple moving average of $62.34.

Mercury General (NYSE:MCY - Get Free Report) last announced its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share for the quarter, topping the consensus estimate of $1.15 by $1.39. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.37 billion. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. During the same period in the prior year, the company posted $1.14 EPS. On average, equities research analysts expect that Mercury General Co. will post 6.35 earnings per share for the current fiscal year.

Mercury General Cuts Dividend

The company also recently declared 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 1.75%. Mercury General's dividend payout ratio is currently 12.59%.

Insider Buying and Selling

In related news, VP Heidi C. Sullivan sold 1,076 shares of the firm's 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 filing with the SEC, which is available at this link. 35.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Mercury General from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 28th.

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.