Baird Financial Group Inc. grew its holdings in shares of Mercury General Co. (NYSE:MCY – Get Rating) by 4.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 27,965 shares of the insurance provider’s stock after buying an additional 1,124 shares during the period. Baird Financial Group Inc.’s holdings in Mercury General were worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JJJ Advisors Inc. increased its position in Mercury General by 123.1% during the 1st quarter. JJJ Advisors Inc. now owns 522 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 288 shares during the period. Fairfield Bush & CO. acquired a new stake in shares of Mercury General in the 1st quarter worth approximately $33,000. Signaturefd LLC grew its holdings in shares of Mercury General by 59.6% in the 1st quarter. Signaturefd LLC now owns 1,055 shares of the insurance provider’s stock worth $58,000 after acquiring an additional 394 shares during the period. Captrust Financial Advisors grew its holdings in shares of Mercury General by 23.8% in the 1st quarter. Captrust Financial Advisors now owns 1,244 shares of the insurance provider’s stock worth $68,000 after acquiring an additional 239 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Mercury General by 15.0% in the 1st quarter. US Bancorp DE now owns 3,077 shares of the insurance provider’s stock worth $170,000 after acquiring an additional 401 shares during the period. Institutional investors and hedge funds own 40.11% of the company’s stock.
Analyst Upgrades and Downgrades
MCY has been the topic of a number of research reports. StockNews.com initiated coverage on Mercury General in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Raymond James upgraded Mercury General from an “underperform” rating to a “strong-buy” rating and set a $45.00 price target on the stock in a report on Friday, November 4th.
Mercury General Stock Performance
Mercury General Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Wednesday, December 14th. Mercury General’s dividend payout ratio (DPR) is presently -14.78%.
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, fire, and other hazards.
- Get a free copy of the StockNews.com research report on Mercury General (MCY)
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