Deutsche Bank AG Purchases Shares of 31,116 Mercury General Corporation $MCY

Key Points

• Deutsche Bank AG initiated a position in Mercury General by purchasing 31,116 shares valued at approximately $3.32 million, representing about 0.06% of the insurer. Institutional investors and hedge funds collectively own 42.39% of the company.
• Mercury General reported a strong quarter, with earnings of $3.52 per share exceeding estimates of $2.53 and revenue of $1.68 billion surpassing expectations of $1.52 billion.
• The company declared a quarterly dividend of $0.3175 per share, equal to an annualized $1.27 payout and a 1.2% yield. Analysts maintain a favorable outlook, with the stock carrying an average “Strong Buy” rating.

Deutsche Bank AG purchased a new position in shares of Mercury General Corporation (NYSE:MCY - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 31,116 shares of the insurance provider's stock, valued at approximately $3,318,000. Deutsche Bank AG owned about 0.06% of Mercury General at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Hilton Head Capital Partners LLC purchased a new stake in Mercury General during the fourth quarter worth approximately $38,000. Mcguire Capital Advisors Inc. purchased a new position in Mercury General in the fourth quarter valued at approximately $40,000. IFP Advisors Inc increased its stake in Mercury General by 79.4% in the fourth quarter. IFP Advisors Inc now owns 506 shares of the insurance provider's stock valued at $48,000 after purchasing an additional 224 shares during the last quarter. State of Wyoming acquired a new stake in Mercury General during the second quarter worth approximately $78,000. Finally, Torren Management LLC purchased a new stake in shares of Mercury General during the 4th quarter worth approximately $84,000. 42.39% of the stock is owned by institutional investors and hedge funds.

Mercury General Price Performance

MCY stock opened at $104.69 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $5.80 billion, a P/E ratio of 6.19 and a beta of 0.90. The business has a 50 day simple moving average of $106.79 and a 200-day simple moving average of $98.63. Mercury General Corporation has a twelve month low of $74.29 and a twelve month high of $113.06.

Mercury General (NYSE:MCY - Get Free Report) last announced its earnings results on Tuesday, August 4th. The insurance provider reported $3.52 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.99. The business had revenue of $1.68 billion for 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 analysts anticipate that Mercury General Corporation will post 12.75 EPS for the current year.

Mercury General Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, September 10th. Mercury General's dividend payout ratio is presently 7.51%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Mercury General in a report on Thursday, June 4th. Zacks Research raised shares of Mercury General from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen raised Mercury General from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 4th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to data from MarketBeat, Mercury General currently has an average rating of "Strong Buy" and an average target price 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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