Bank & Trust Co Sells 442 Shares of Mercury General Co. (NYSE:MCY)

Bank & Trust Co trimmed its position in shares of Mercury General Co. (NYSE:MCY) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 25,224 shares of the insurance provider’s stock after selling 442 shares during the quarter. Mercury General comprises 1.4% of Bank & Trust Co’s portfolio, making the stock its 17th largest holding. Bank & Trust Co’s holdings in Mercury General were worth $1,677,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. National Bank of Canada FI bought a new stake in Mercury General during the 2nd quarter worth approximately $32,000. Allworth Financial LP increased its position in shares of Mercury General by 1,190.5% during the third quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 500 shares in the last quarter. Quarry LP raised its holdings in shares of Mercury General by 112.0% during the second quarter. Quarry LP now owns 1,215 shares of the insurance provider’s stock worth $65,000 after acquiring an additional 642 shares during the period. Blue Trust Inc. lifted its position in Mercury General by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 1,151 shares of the insurance provider’s stock valued at $72,000 after acquiring an additional 482 shares in the last quarter. Finally, CWM LLC boosted its stake in Mercury General by 115.8% in the 3rd quarter. CWM LLC now owns 1,215 shares of the insurance provider’s stock worth $77,000 after purchasing an additional 652 shares during the period. 42.39% of the stock is currently owned by institutional investors.

Mercury General Stock Up 0.0 %

MCY traded up $0.03 during trading on Tuesday, reaching $65.01. 55,621 shares of the stock were exchanged, compared to its average volume of 184,868. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.33 and a current ratio of 0.33. The stock’s 50 day moving average price is $71.98 and its two-hundred day moving average price is $64.42. Mercury General Co. has a twelve month low of $37.08 and a twelve month high of $80.72. The stock has a market cap of $3.60 billion, a P/E ratio of 6.44 and a beta of 0.87.

Mercury General (NYSE:MCY) last issued its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $1.39. Mercury General had a net margin of 10.18% and a return on equity of 18.04%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the firm earned $1.14 EPS. Equities analysts expect that Mercury General Co. will post 6.35 EPS for the current year.

Mercury General Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Thursday, December 12th were paid a dividend of $0.317 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $1.27 annualized dividend and a dividend yield of 1.95%. Mercury General’s dividend payout ratio is currently 12.59%.

Insider Activity at Mercury General

In other news, VP Heidi C. Sullivan sold 1,076 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $77.28, for a total transaction of $83,153.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 35.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Mercury General from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 26th.

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.