6 days Ago By ABMN Staff
Franklin Resources Inc. grew its holdings in Mercury General Co. ( NYSE:MCY – Free Report ) by 32.
6% in the fourth quarter, HoldingsChannel reports. The fund owned 22,964 shares of the insurance provider’s stock after buying an additional 5,652 shares during the period. Franklin Resources Inc.
’s holdings in Mercury General were worth $1,527,000 as of its most recent filing with the SEC. Several other hedge funds also recently made changes to their positions in MCY. Smartleaf Asset Management LLC raised its position in shares of Mercury General by 145.
1% in the 4th quarter. Smartleaf Asset Management LLC now owns 554 shares of the insurance provider’s stock valued at $37,000 after buying an additional 328 shares in the last quarter. SBI Securities Co.
Ltd. acquired a new position in Mercury General during the 4th quarter worth approximately $44,000. Millstone Evans Group LLC bought a new stake in Mercury General during the 4th quarter worth $60,000.
Steward Partners Investment Advisory LLC bought a new stake in shares of Mercury General during the fourth quarter worth about $68,000. Finally, KBC Group NV increased its stake in shares of Mercury General by 58.6% in the fourth quarter.
KBC Group NV now owns 1,299 shares of the insurance provider’s stock valued at $86,000 after buying an additional 480 shares during the period. 42.39% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In Several brokerages recently weighed in on MCY. StockNews.com cut shares of Mercury General from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th.
Raymond James raised Mercury General from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $70.00 to $80.00 in a research note on Wednesday, February 12th.
Mercury General Stock Up 1.3 % Shares of NYSE MCY opened at $52.48 on Tuesday.
Mercury General Co. has a 12-month low of $44.19 and a 12-month high of $80.
72. 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 firm has a market cap of $2.
91 billion, a PE ratio of 6.21 and a beta of 0.81.
The company’s fifty day simple moving average is $54.02 and its 200 day simple moving average is $61.58.
Mercury General ( NYSE:MCY – Get Free Report ) last issued its earnings results on Tuesday, February 11th. The insurance provider reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $1.
94 by $0.84. Mercury General had a return on equity of 22.
54% and a net margin of 8.55%. As a group, sell-side analysts forecast that Mercury General Co.
will post -0.5 earnings per share for the current fiscal year. Mercury General Increases Dividend The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th.
Investors of record on Thursday, March 13th were given a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, March 13th.
This represents a $1.27 annualized dividend and a yield of 2.42%.
This is an increase from Mercury General’s previous quarterly dividend of $0.32. Mercury General’s dividend payout ratio (DPR) is presently 15.
03%. Mercury General Profile ( Free Report ) 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. See Also Want to see what other hedge funds are holding MCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercury General Co.
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