Jefferies Financial Group Inc. Sells 32,806 Shares of Mercury General Corporation $MCY

Jefferies Financial Group Inc. reduced its position in shares of Mercury General Corporation (NYSE:MCY) by 57.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,567 shares of the insurance provider’s stock after selling 32,806 shares during the period. Jefferies Financial Group Inc.’s holdings in Mercury General were worth $2,083,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in Mercury General during the third quarter worth about $34,000. Jones Financial Companies Lllp raised its stake in shares of Mercury General by 236.0% in the third quarter. Jones Financial Companies Lllp now owns 457 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 321 shares during the last quarter. Caitlin John LLC bought a new position in shares of Mercury General in the third quarter valued at approximately $41,000. State of Wyoming acquired a new position in shares of Mercury General in the 3rd quarter worth approximately $72,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Mercury General by 194.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,209 shares of the insurance provider’s stock worth $81,000 after acquiring an additional 798 shares in the last quarter. 42.39% of the stock is currently owned by institutional investors and hedge funds.

Mercury General Stock Down 0.7%

Shares of NYSE MCY opened at $88.45 on Thursday. Mercury General Corporation has a 1 year low of $47.06 and a 1 year high of $100.06. The firm’s 50-day moving average is $89.96 and its 200-day moving average is $86.54. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $4.90 billion, a PE ratio of 9.05 and a beta of 0.92.

Mercury General (NYSE:MCY) last posted its quarterly earnings results on Tuesday, February 17th. The insurance provider reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $1.10. Mercury General had a net margin of 9.03% and a return on equity of 20.74%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.37 billion. Equities analysts expect that Mercury General Corporation will post -0.5 EPS for the current year.

Mercury General Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.4%. Mercury General’s dividend payout ratio is 13.00%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Zacks Research raised Mercury General from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Mercury General in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded Mercury General from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and an average price target of $100.00.

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.