Two Sigma Advisers LP Has $6.32 Million Stock Holdings in Mercury General Co. (NYSE:MCY)

Two Sigma Advisers LP cut its holdings in shares of Mercury General Co. (NYSE:MCY - Free Report) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,000 shares of the insurance provider's stock after selling 19,300 shares during the quarter. Two Sigma Advisers LP owned about 0.17% of Mercury General worth $6,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Barclays PLC grew its stake in Mercury General by 319.9% during the 3rd quarter. Barclays PLC now owns 46,557 shares of the insurance provider's stock valued at $2,931,000 after purchasing an additional 35,470 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Mercury General by 4.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 28,348 shares of the insurance provider's stock worth $1,885,000 after buying an additional 1,161 shares during the last quarter. Blue Trust Inc. lifted its holdings in Mercury General by 68.9% during the 4th quarter. Blue Trust Inc. now owns 1,944 shares of the insurance provider's stock worth $122,000 after buying an additional 793 shares during the last quarter. KBC Group NV lifted its holdings in Mercury General by 58.6% during the 4th quarter. KBC Group NV now owns 1,299 shares of the insurance provider's stock worth $86,000 after buying an additional 480 shares during the last quarter. Finally, Highland Capital Management LLC bought a new stake in shares of Mercury General in the 4th quarter worth approximately $242,000. 42.39% of the stock is currently owned by hedge funds and other institutional investors.

Mercury General Price Performance

Shares of MCY traded up $0.29 during midday trading on Friday, reaching $63.98. The stock had a trading volume of 41,490 shares, compared to its average volume of 636,454. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market capitalization of $3.54 billion, a P/E ratio of 7.59 and a beta of 0.90. The firm's 50 day moving average price is $56.46 and its 200-day moving average price is $59.58. Mercury General Co. has a 52 week low of $44.19 and a 52 week high of $80.72.

Mercury General (NYSE:MCY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The insurance provider reported ($2.29) EPS for the quarter, beating 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 firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, analysts forecast that Mercury General Co. will post -0.5 earnings per share for the current fiscal year.

Mercury General Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a dividend of $0.3175 per share. The ex-dividend date is Thursday, June 12th. This represents a $1.27 annualized dividend and a dividend yield of 1.99%. Mercury General's dividend payout ratio is presently 24.61%.

Wall Street Analyst Weigh In

MCY has been the topic of several recent research reports. Raymond James raised Mercury General from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $70.00 to $80.00 in a report 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 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.