Deutsche Bank AG Decreases Holdings in Mercury General Co. (NYSE:MCY)

Deutsche Bank AG lessened its position in Mercury General Co. (NYSE:MCY - Free Report) by 52.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,884 shares of the insurance provider's stock after selling 29,774 shares during the quarter. Deutsche Bank AG's holdings in Mercury General were worth $1,787,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Russell Investments Group Ltd. increased its holdings in shares of Mercury General by 0.3% during the 4th quarter. Russell Investments Group Ltd. now owns 75,400 shares of the insurance provider's stock worth $5,013,000 after buying an additional 224 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Mercury General by 145.1% in 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. Envestnet Asset Management Inc. raised its position in Mercury General by 6.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,542 shares of the insurance provider's stock valued at $368,000 after purchasing an additional 353 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Mercury General by 13.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,816 shares of the insurance provider's stock worth $254,000 after acquiring an additional 444 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Mercury General by 4.4% during the fourth quarter. Empowered Funds LLC now owns 10,738 shares of the insurance provider's stock worth $714,000 after purchasing an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 42.39% of the company's stock.

Mercury General Price Performance

Shares of NYSE:MCY traded up $2.98 on Thursday, reaching $63.80. 397,552 shares of the company were exchanged, compared to its average volume of 408,794. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 7.55 and a beta of 0.90. Mercury General Co. has a 1-year low of $44.19 and a 1-year high of $80.72. The company has a 50-day moving average of $56.46 and a 200-day moving average of $59.58. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29.

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

Mercury General Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders 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 1.99%. Mercury General's payout ratio is currently 24.61%.

Wall Street Analyst Weigh In

Several equities analysts have commented on MCY shares. Raymond James upgraded shares of Mercury General from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $70.00 to $80.00 in a research note on Wednesday, February 12th. Wall Street Zen raised Mercury General from a "hold" rating to a "buy" rating in a report on Monday, May 12th.

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.