Vanguard Group Inc. Sells 31,384 Shares of Mercury General Corporation $MCY

Key Points

• Vanguard trimmed its stake in Mercury General (NYSE:MCY) by 1.0%, selling 31,384 shares in Q4 and now owns 3,095,241 shares (about 5.59% of the company) valued at roughly $291.1 million.
• Mercury General beat expectations for the most recent quarter, reporting $3.50 EPS vs. $2.15 expected and $1.54 billion in revenue, with a 32.94% return on equity and a 13.68% net margin.
• The company declared a quarterly dividend of $0.3175 (annualized $1.27, yield ~1.3%, ex-dividend June 11, payable June 25) and carries a consensus analyst rating of "Buy" with an average price target of $100.00.

Vanguard Group Inc. reduced its position in Mercury General Corporation (NYSE:MCY - Free Report) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,095,241 shares of the insurance provider's stock after selling 31,384 shares during the quarter. Vanguard Group Inc. owned about 5.59% of Mercury General worth $291,138,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MCY. Financial Management Professionals Inc. purchased a new position in shares of Mercury General in the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Mercury General during the 3rd quarter valued at $34,000. Jones Financial Companies Lllp raised its position in shares of Mercury General by 236.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 457 shares of the insurance provider's stock worth $38,000 after purchasing an additional 321 shares during the last quarter. Caitlin John LLC purchased a new position in shares of Mercury General in the 3rd quarter worth about $41,000. Finally, GAMMA Investing LLC raised its position in shares of Mercury General by 19.2% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the insurance provider's stock worth $71,000 after purchasing an additional 121 shares during the last quarter. 42.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCY has been the subject of several recent analyst reports. Wall Street Zen raised Mercury General from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 21st. Zacks Research downgraded Mercury General from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Mercury General in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Mercury General presently has a consensus rating of "Buy" and an average price target of $100.00.

Mercury General Price Performance

MCY opened at $98.02 on Friday. The business's 50-day moving average is $91.62 and its two-hundred day moving average is $89.80. Mercury General Corporation has a 1 year low of $56.63 and a 1 year high of $100.69. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.44 and a quick ratio of 0.42. The firm has a market capitalization of $5.43 billion, a PE ratio of 6.46 and a beta of 0.92.

Mercury General (NYSE:MCY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $2.15 by $1.35. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.46 billion. Mercury General had a return on equity of 32.94% and a net margin of 13.68%. Research analysts anticipate that Mercury General Corporation will post 9 earnings per share for the current fiscal year.

Mercury General Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be issued a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.27 dividend on an annualized basis and a yield of 1.3%. Mercury General's payout ratio is presently 8.37%.

About Mercury General

Mercury General Corporation is a holding company headquartered in Los Angeles, California, that underwrites and markets property and casualty insurance products through its principal subsidiary, Mercury Insurance Company. Established in 1961, the company has built a reputation for offering a broad range of personal and commercial lines, with a focus on automobile coverage. Mercury General operates in key U.S. markets, deploying a mix of independent agents and direct distribution channels to serve policyholders.

The company's product portfolio includes personal automobile insurance, homeowners and renters policies, as well as commercial automobile, business liability and umbrella insurance.

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