Victory Capital Management Sells 1099 Shares of Mercury General Co.
June 10, 2023
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Victory Capital Management Inc. have recently sold 1099 shares of Mercury General ($NYSE:MCY) Co. which is an American insurance company based in Los Angeles, California. Mercury General provides customers with a variety of auto insurance products such as liability coverage, collision coverage, comprehensive coverage, medical payments coverage, and uninsured/underinsured motorist coverage. The company also offers other services such as roadside assistance, rental reimbursement, and mechanical breakdown protection. The sale of these shares was part of a larger portfolio rebalancing strategy for Victory Capital Management Inc., and it represents their current outlook on the company’s stock. This news could be seen as a sign that the company is not expecting any significant growth from Mercury General Co. in the near future.
However, it is important to note that this does not necessarily mean that Mercury General is a bad investment, as it could still be an attractive option to some investors depending on their financial goals.
Price History
The stock opened at $31.0 and closed at $30.7, representing a 2.0% decrease from the prior day’s closing price of $31.3. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Mercury General. More…
| Total Revenues | Net Income | Net Margin |
| 3.94k | -361.04 | -9.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Mercury General. More…
| Operations | Investing | Financing |
| 264.18 | -275.46 | -14.11 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Mercury General. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.59k | 5.13k | 26.35 |
Key Ratios Snapshot
Some of the financial key ratios for Mercury General are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.5% | – | -11.7% |
| FCF Margin | ROE | ROA |
| 5.8% | -19.4% | -4.4% |
Analysis
GoodWhale has conducted an analysis of MERCURY GENERAL‘s wellbeing, and based on the Star Chart, MERCURY GENERAL appears to be strong in dividend, but weak in asset, growth, and profitability. Overall, MERCURY GENERAL has been given an intermediate health score of 6/10, meaning that it is likely to safely ride out any crisis without the risk of bankruptcy. Additionally, MERCURY GENERAL has been classified as a ‘cow’, a type of company that has the track record of paying out consistent and sustainable dividends. This makes MERCURY GENERAL an attractive investment for value investors looking for a steady source of income from dividends, as well as those investors looking for a safe harbor in times of economic volatility. Furthermore, investors looking for opportunities to capitalize on the potential of a turnaround might also find MERCURY GENERAL an appealing proposition. More…
Peers
The competition between Mercury General Corp and its competitors is fierce. FedNat Holding Co, United Insurance Holdings Corp, and National Security Group Inc are all fighting for market share in the highly competitive insurance industry. Mercury General Corp has a strong reputation and a long history of success, but its competitors are constantly trying to undercut its prices and steal its customers.
– FedNat Holding Co ($NASDAQ:FNHC)
FedNat Holding Co is a regional insurance holding company. The Company, through its subsidiaries, is engaged in the business of insurance underwriting, insurance premium financing, reinsurance and catastrophe reinsurance. The Company’s principal operating subsidiaries include Federated National Insurance Company (FNIC), which is an insurance company, and Westchester Fire Insurance Company (WFC), which is a property and casualty insurance company. The Company’s segments include Property and Casualty, and Title.
– United Insurance Holdings Corp ($NASDAQ:UIHC)
United Insurance Holdings Corp is a property and casualty insurance holding company. The Company’s primary business is conducted through its subsidiaries and its insurance subsidiaries, which include United Property & Casualty Insurance Company and American Coastal Insurance Company. The Company’s lines of business include homeowners, commercial multi-peril, dwelling fire, automobile, and workers’ compensation insurance.
Summary
Victory Capital Management Inc. recently sold 1099 shares of Mercury General Co. This reflects a decrease in investment in the company. Analyzing the past performance of Mercury General Co. can help investors decide whether or not to invest in the company in the future. Investors considering an investment in MERCURY GENERAL should keep in mind the company’s high debt-to-equity ratio and relatively low price-to-earnings ratio, which may indicate that the company is undervalued. Additionally, investors should assess the management team’s long-term strategy and their ability to successfully execute it.
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