BNP Paribas Financial Markets Has $2.03 Million Stake in Mercury General Co. (NYSE:MCY)

BNP Paribas Financial Markets cut its holdings in shares of Mercury General Co. (NYSE:MCY - Free Report) by 36.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,589 shares of the insurance provider's stock after selling 17,293 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.06% of Mercury General worth $2,034,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in Mercury General by 145.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 554 shares of the insurance provider's stock worth $37,000 after acquiring an additional 328 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Mercury General in the 4th quarter valued at about $44,000. Sterling Capital Management LLC increased its stake in shares of Mercury General by 772.9% during the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the insurance provider's stock worth $49,000 after purchasing an additional 657 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of Mercury General in the 4th quarter valued at about $60,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Mercury General in the 4th quarter valued at about $68,000. 42.39% of the stock is owned by institutional investors.

Mercury General Stock Performance

Shares of NYSE MCY traded down $1.84 during mid-day trading on Wednesday, reaching $60.39. 255,345 shares of the company were exchanged, compared to its average volume of 406,140. Mercury General Co. has a twelve month low of $44.19 and a twelve month high of $80.72. The stock has a market capitalization of $3.35 billion, a P/E ratio of 7.15 and a beta of 0.90. The company's 50-day simple moving average is $55.88 and its 200-day simple moving average is $60.01. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.29.

Mercury General (NYSE:MCY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The insurance provider reported ($2.29) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($4.00) by $1.71. Mercury General had a return on equity of 22.54% and a net margin of 8.55%. The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.36 billion. As a group, research analysts predict that Mercury General Co. will post -0.5 earnings per share for the current year.

Mercury General Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a $0.3175 dividend. The ex-dividend date is Thursday, June 12th. This represents a $1.27 annualized dividend and a yield of 2.10%. Mercury General's dividend payout ratio (DPR) is presently 24.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MCY shares. StockNews.com upgraded Mercury General from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Raymond James upgraded Mercury General from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $70.00 to $80.00 in a research note on Wednesday, February 12th.

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.