WINTON GROUP LTD reduces its stake in Mercury General Co. (NYSE:MCY)

According to the most recent filing Mercury General Co. made with the SEC, Wintons Group Ltd. sold off a stake in the company that was equivalent to a 21.4% decrease during the third quarter. The stock is traded with the ticker symbol “MCY.” The institutional investor now has 43,445 shares in their possession after selling 11,862 shares of the insurance provider’s stock during the quarter. This brings the total number of shares they own to 43,445. WINTON GROUP Ltd held 0.08% of Mercury General’s shares at the end of the most recent fiscal quarter, valued at $1,235,000 at the time of the quarter’s end.

In the most recent few months, several institutional investors, including hedge funds, have modified the number of shares in the company they are currently holding. During the third quarter, Connor Clark & Lunn Investment Management Ltd. brought the total amount of Mercury General stock it owned to 538.0 percent higher than before. Following the acquisition of an additional 47,801 shares of the insurance provider’s stock during the most recent quarter, Connor Clark & Lunn Investment Management Ltd. now has a total of 56,686 shares of the company’s stock, which are collectively worth a sum that equals $1,611,000. During the third quarter, ExodusPoint Capital Management LP saw a rise of 205.9% in the amount of Mercury General stock it owned as a percentage of its total holdings. ExodusPoint Capital Management LP now holds 108,395 shares of the insurance provider’s stock, which have a value of $3,081,000 following the acquisition of an additional 72,963 shares during the most recent quarter. During the third quarter, Tower Research Capital LLC (TRC) brought the total amount of Mercury General stock that it owned to 30.6% higher than before. As a result of the purchase of 3,802 additional shares during the most recent quarter, Tower Research Capital LLC (TRC) now owns a total of 16,237 shares of the insurance provider’s stock. The current market value of these shares is $462,000. Through the third quarter, UBS Group AG achieved a 48.6% increase in the proportion of Mercury General stock that it owned. During the most recent quarter, UBS Group AG increased its holdings in the insurance provider’s stock by 14,860 shares, bringing its total holdings to 45,453 shares of the company’s stock with a value of $1,292,000. The outcomes of business operations for the third quarter at the Zurich Kantonalbank The amount of ownership in Mercury General held by Zurich Cantonalbank has increased by 55.3%. Zurcher Kantonalbank is a Swiss bank. Zurich Cantonalbank now owns 4,581 shares in the insurance company after purchasing an additional 1,632 shares during the most recent quarter. These shares were acquired during the most recent quarter. There is currently a value of $130,000 attached to these shares. Hedge funds and other institutional investors hold 42.54 percent of the company’s outstanding shares.
Raymond James upgraded their rating on Mercury General from “underperform” to “strong buy” and set a price objective of $45.00 for the company in a separate research note published on November 4th.
On Friday morning, the price of a share of MCY was $35.73 when trading began. The price at which Mercury General Co. reached its 52-week low is $27.89, while the price at which the company reached its 52-week high is $56.21. The moving averages for the company’s stock over the past 50 and 200 days come in at $35.39 and $33.85, respectively. There is a debt-to-equity ratio that comes in at 0.26, a quick ratio that comes in at 0.27, a current ratio that comes in at 0.25, and a quick ratio that comes in at 0.27.

In addition, the business has recently announced a quarterly dividend, which will be paid out on March 29th. On March 15th, a $0.317 dividend payment per share will be made to all stockholders recorded as having ownership as of that date. March 14th, which is a Tuesday, is the date that will mark the beginning of the “ex-dividend” status for this dividend. This equates to an annual dividend payment of 1.27 dollars and a dividend yield of 3.55 percent. The dividend payout ratio (DPR) for Mercury General currently sits at a negative value of -13.71%.

The Mercury General Corporation is an auto insurance agency that acts as a broker. In addition to selling insurance policies for private automobiles, the company also gives its customers access to supplementary goods and services in property and liability insurance. The company provides a wide variety of pertinent insurance products, including private passenger auto insurance as one of those products. Other extremely useful insurance types include protection for residential properties, commercial properties, and business automobiles.