Absher Wealth Management LLC Lowers Stock Position in Mercury General Co. (NYSE:MCY)

Absher Wealth Management LLC decreased its position in shares of Mercury General Co. (NYSE:MCY) by 28.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,215 shares of the insurance provider’s stock after selling 11,299 shares during the period. Absher Wealth Management LLC owned 0.05% of Mercury General worth $1,876,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MCY. Allworth Financial LP raised its position in shares of Mercury General by 1,190.5% during the 3rd quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 500 shares during the period. Blue Trust Inc. increased its stake in Mercury General by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 1,151 shares of the insurance provider’s stock worth $72,000 after buying an additional 482 shares in the last quarter. CWM LLC raised its holdings in Mercury General by 115.8% during the third quarter. CWM LLC now owns 1,215 shares of the insurance provider’s stock valued at $77,000 after acquiring an additional 652 shares during the period. Quest Partners LLC boosted its stake in shares of Mercury General by 12,340.0% in the third quarter. Quest Partners LLC now owns 1,244 shares of the insurance provider’s stock worth $78,000 after acquiring an additional 1,234 shares during the period. Finally, KBC Group NV grew its position in shares of Mercury General by 58.6% during the fourth quarter. KBC Group NV now owns 1,299 shares of the insurance provider’s stock worth $86,000 after purchasing an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 42.39% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, VP Heidi C. Sullivan sold 1,076 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $77.28, for a total value of $83,153.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 35.50% of the company’s stock.

Mercury General Stock Up 2.1 %

MCY opened at $50.41 on Thursday. Mercury General Co. has a 52 week low of $38.28 and a 52 week high of $80.72. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.31. The firm has a 50-day simple moving average of $62.46 and a two-hundred day simple moving average of $63.99. The company has a market capitalization of $2.79 billion, a PE ratio of 5.00 and a beta of 0.85.

About Mercury General

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.