Mercury General Corporation $MCY Stake Reduced by Sei Investments Co.

Sei Investments Co. trimmed its holdings in Mercury General Corporation (NYSE:MCY) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 141,647 shares of the insurance provider’s stock after selling 4,799 shares during the quarter. Sei Investments Co. owned 0.26% of Mercury General worth $12,486,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in Mercury General by 58.8% during the first quarter. Royal Bank of Canada now owns 54,312 shares of the insurance provider’s stock valued at $3,036,000 after purchasing an additional 20,115 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Mercury General by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,935 shares of the insurance provider’s stock worth $891,000 after buying an additional 702 shares in the last quarter. Millennium Management LLC grew its position in Mercury General by 8.5% in the first quarter. Millennium Management LLC now owns 111,327 shares of the insurance provider’s stock worth $6,223,000 after buying an additional 8,742 shares during the last quarter. Empowered Funds LLC grew its position in Mercury General by 1.7% in the first quarter. Empowered Funds LLC now owns 10,923 shares of the insurance provider’s stock worth $611,000 after buying an additional 185 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Mercury General by 194.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,209 shares of the insurance provider’s stock valued at $81,000 after buying an additional 798 shares in the last quarter. Institutional investors own 42.39% of the company’s stock.

Mercury General Price Performance

MCY stock opened at $107.21 on Friday. Mercury General Corporation has a one year low of $66.57 and a one year high of $113.06. The firm has a 50-day moving average of $104.58 and a two-hundred day moving average of $96.40. The firm has a market capitalization of $5.94 billion, a PE ratio of 7.07 and a beta of 0.89. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.22.

Mercury General (NYSE:MCY) last released its 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. Mercury General had a net margin of 13.68% and a return on equity of 32.94%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.46 billion. On average, analysts forecast that Mercury General Corporation will post 11.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MCY. Zacks Research downgraded Mercury General from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Weiss Ratings restated a “buy (b)” rating on shares of Mercury General in a report on Thursday, June 4th. Finally, Wall Street Zen raised Mercury General from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Mercury General currently has an average rating of “Buy” and a consensus target price of $100.00.

Mercury General Company Profile

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.