Paloma Partners Management Company Increased Mercury General Corp (NYSE:MCY) Stake by $12.41 Million

May 23, 2018 - By Darrin Black

Mercury General Corporation (NYSE:MCY) LogoInvestors sentiment increased to 2.13 in 2017 Q4. Its up 0.62, from 1.51 in 2017Q3. It increased, as 11 investors sold MCY shares while 43 reduced holdings. 39 funds opened positions while 76 raised stakes. 24.64 million shares or 2.07% less from 25.16 million shares in 2017Q3 were reported. Hanson & Doremus Inv Management accumulated 450 shares or 0.01% of the stock. First Quadrant Lp Ca stated it has 0.01% of its portfolio in Mercury General Corporation (NYSE:MCY). Guggenheim Ltd Limited Liability Company owns 50,034 shares or 0.01% of their US portfolio. Verition Fund Mngmt Ltd Com holds 13,567 shares or 0.07% of its portfolio. Schwab Charles Inv Management invested 0.01% of its portfolio in Mercury General Corporation (NYSE:MCY). Gam Ag holds 0.01% or 6,148 shares in its portfolio. Rhumbline Advisers invested in 0.01% or 58,498 shares. 5,000 are held by Nj State Employees Deferred Compensation Plan. Fincl has 27 shares for 0% of their portfolio. Moreover, Susquehanna Gru Ltd Liability Partnership has 0% invested in Mercury General Corporation (NYSE:MCY) for 7,548 shares. Frontier Investment Mgmt has invested 0.86% in Mercury General Corporation (NYSE:MCY). 5,510 are owned by Ing Groep Nv. First Lp holds 0.05% in Mercury General Corporation (NYSE:MCY) or 413,184 shares. Pinebridge Invs Ltd Partnership reported 2,841 shares. Clifford Swan Investment Counsel Ltd Llc, California-based fund reported 14,055 shares.

Since February 8, 2018, it had 1 insider buy, and 0 insider sales for $21,338 activity.

Paloma Partners Management Company increased its stake in Mercury General Corp (NYSE:MCY) by 1032.07% based on its latest 2018Q1 regulatory filing with the SEC. Paloma Partners Management Company bought 275,811 shares as the company’s stock declined 16.16% with the market. The institutional investor held 302,535 shares of the property-casualty insurers company at the end of 2018Q1, valued at $13.88M, up from 26,724 at the end of the previous reported quarter. Paloma Partners Management Company who had been investing in Mercury General Corp for a number of months, seems to be bullish on the $2.67 billion market cap company. The stock decreased 0.29% or $0.14 during the last trading session, reaching $48.23. About 51,917 shares traded. Mercury General Corporation (NYSE:MCY) has declined 25.46% since May 23, 2017 and is downtrending. It has underperformed by 37.01% the S&P500.

Paloma Partners Management Company, which manages about $6.35 billion US Long portfolio, decreased its stake in Nasdaq (QQQ) by 83,800 shares to 73,700 shares, valued at $11.80 million in 2018Q1, according to the filing. It also reduced its holding in Ishares Msci Eafe Index Fund (Call) (EFA) by 200,000 shares in the quarter, leaving it with 35,000 shares, and cut its stake in Texas Instruments Inc (NASDAQ:TXN).

Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. The company has market cap of $2.67 billion. The firm also writes homeowners, commercial automobile, commercial property, mechanical protection, fire, and umbrella insurance. It has a 18.42 P/E ratio. The Company’s automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners insurance products cover dwelling, liability, personal property, fire, and other hazards.

More news for Mercury General Corporation (NYSE:MCY) were recently published by: Benzinga.com, which released: “Earnings Scheduled For April 30, 2018” on April 30, 2018. Seekingalpha.com‘s article titled: “Mercury General slides 6.2% post Q1 results.” and published on April 30, 2018 is yet another important article.

Mercury General Corporation (NYSE:MCY) Institutional Positions Chart

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