15,700 Shares in Mercury General Corporation $MCY Acquired by OMERS ADMINISTRATION Corp

Key Points

• OMERS Administration Corp acquired 15,700 shares of Mercury General in the second quarter, valued at approximately $1.67 million. Institutional investors and hedge funds collectively own 42.39% of the company.
• Mercury General reported quarterly EPS of $3.52, beating estimates of $2.53, while revenue reached $1.68 billion versus the $1.52 billion consensus forecast.
• The company declared a quarterly dividend of $0.3175 per share, equal to $1.27 annually and a 1.2% yield. Analysts maintain a consensus “Strong Buy” rating, though their $100 price target is below the stock’s $104.69 price.

OMERS ADMINISTRATION Corp purchased a new position in Mercury General Corporation (NYSE:MCY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 15,700 shares of the insurance provider's stock, valued at approximately $1,674,000.

Several other institutional investors have also recently added to or reduced their stakes in MCY. Cetera Investment Advisers raised its stake in Mercury General by 2.2% during the first quarter. Cetera Investment Advisers now owns 5,284 shares of the insurance provider's stock worth $466,000 after acquiring an additional 112 shares during the period. Hilton Head Capital Partners LLC lifted its position in Mercury General by 32.6% in the first quarter. Hilton Head Capital Partners LLC now owns 541 shares of the insurance provider's stock worth $48,000 after purchasing an additional 133 shares during the period. ProShare Advisors LLC boosted its stake in Mercury General by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 5,230 shares of the insurance provider's stock valued at $492,000 after buying an additional 164 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Mercury General by 3.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,473 shares of the insurance provider's stock worth $515,000 after purchasing an additional 173 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Mercury General by 1.7% in the 1st quarter. Empowered Funds LLC now owns 10,923 shares of the insurance provider's stock worth $611,000 after purchasing an additional 185 shares in the last quarter. 42.39% of the stock is owned by institutional investors and hedge funds.

Mercury General Trading Up 0.2%

NYSE:MCY opened at $104.69 on Thursday. The stock has a market cap of $5.80 billion, a PE ratio of 6.19 and a beta of 0.90. Mercury General Corporation has a fifty-two week low of $74.29 and a fifty-two week high of $113.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.47 and a quick ratio of 0.47. The stock's 50-day moving average is $106.79 and its two-hundred day moving average is $98.63.

Mercury General (NYSE:MCY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $3.52 EPS for the quarter, topping the consensus estimate of $2.53 by $0.99. The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.52 billion. Mercury General had a net margin of 14.77% and a return on equity of 31.98%. As a group, equities research analysts forecast that Mercury General Corporation will post 12.75 earnings per share for the current fiscal year.

Mercury General Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, September 10th. Mercury General's dividend payout ratio (DPR) is currently 7.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Zacks Research upgraded Mercury General from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 18th. Wall Street Zen raised shares of Mercury General from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 4th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Mercury General in a research report on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy" and a consensus price target of $100.00.

Mercury General Profile

Mercury General Corporation is a holding company headquartered in Los Angeles, California, that underwrites and markets property and casualty insurance products through its principal subsidiary, Mercury Insurance Company. Established in 1961, the company has built a reputation for offering a broad range of personal and commercial lines, with a focus on automobile coverage. Mercury General operates in key U.S. markets, deploying a mix of independent agents and direct distribution channels to serve policyholders.

The company's product portfolio includes personal automobile insurance, homeowners and renters policies, as well as commercial automobile, business liability and umbrella insurance.

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