Mercury General Co. (NYSE:MCY) Shares Bought by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC grew its stake in shares of Mercury General Co. (NYSE:MCY - Free Report) by 27.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,648 shares of the insurance provider's stock after acquiring an additional 10,607 shares during the period. Bridgeway Capital Management LLC owned 0.09% of Mercury General worth $3,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in Mercury General by 145.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 554 shares of the insurance provider's stock valued at $37,000 after acquiring an additional 328 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Mercury General during the fourth quarter valued at approximately $44,000. Sterling Capital Management LLC lifted its holdings in shares of Mercury General by 772.9% during the fourth quarter. Sterling Capital Management LLC now owns 742 shares of the insurance provider's stock valued at $49,000 after purchasing an additional 657 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of Mercury General during the fourth quarter valued at approximately $60,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Mercury General during the fourth quarter valued at approximately $68,000. Hedge funds and other institutional investors own 42.39% of the company's stock.

Mercury General Price Performance

Shares of NYSE MCY traded down $0.83 during mid-day trading on Wednesday, hitting $61.17. 74,033 shares of the company's stock traded hands, compared to its average volume of 402,132. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.34. Mercury General Co. has a 1 year low of $44.19 and a 1 year high of $80.72. The company has a market capitalization of $3.39 billion, a P/E ratio of 7.24 and a beta of 0.90. The company's 50-day moving average is $55.15 and its two-hundred day moving average is $60.24.

Mercury General (NYSE:MCY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The insurance provider reported ($2.29) EPS for the quarter, topping analysts' consensus estimates of ($4.00) by $1.71. Mercury General had a net margin of 8.55% and a return on equity of 22.54%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, equities analysts anticipate that Mercury General Co. will post -0.5 EPS for the current fiscal year.

Mercury General Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a $0.3175 dividend. The ex-dividend date is Thursday, June 12th. This represents a $1.27 annualized dividend and a yield of 2.08%. Mercury General's dividend payout ratio (DPR) is 24.61%.

Wall Street Analyst Weigh In

MCY has been the subject of a number of research reports. StockNews.com upgraded shares of Mercury General from a "hold" rating to a "buy" rating in a research note on Monday. Raymond James raised shares of Mercury General from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $70.00 to $80.00 in a research report on Wednesday, February 12th.

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, and other coverages.