GAMMA Investing LLC Has $1.78 Million Position in Mercury General Co. (NYSE:MCY)

GAMMA Investing LLC increased its position in shares of Mercury General Co. (NYSE:MCY - Free Report) by 4,933.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,863 shares of the insurance provider's stock after acquiring an additional 31,230 shares during the period. GAMMA Investing LLC owned approximately 0.06% of Mercury General worth $1,781,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in shares of Mercury General by 4.4% in the fourth quarter. Empowered Funds LLC now owns 10,738 shares of the insurance provider's stock valued at $714,000 after buying an additional 451 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Mercury General during the fourth quarter valued at $206,000. Blue Trust Inc. increased its holdings in shares of Mercury General by 68.9% in the 4th quarter. Blue Trust Inc. now owns 1,944 shares of the insurance provider's stock valued at $122,000 after purchasing an additional 793 shares during the period. Principal Financial Group Inc. increased its stake in Mercury General by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 128,991 shares of the insurance provider's stock valued at $8,575,000 after buying an additional 3,579 shares during the period. Finally, Ieq Capital LLC purchased a new stake in shares of Mercury General during the fourth quarter worth $1,159,000. 42.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Mercury General from a "hold" rating to a "buy" rating in a research report on Monday, May 12th.

Mercury General Stock Performance

MCY stock traded up $0.88 during trading on Monday, reaching $65.37. 14,576 shares of the stock were exchanged, compared to its average volume of 412,404. Mercury General Co. has a twelve month low of $44.19 and a twelve month high of $80.72. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $3.62 billion, a P/E ratio of 7.71 and a beta of 0.96. The stock has a 50 day simple moving average of $58.77 and a 200-day simple moving average of $58.54.

Mercury General (NYSE:MCY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The insurance provider reported ($2.29) earnings per share for the quarter, topping the consensus estimate of ($4.00) by $1.71. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.36 billion. Mercury General had a return on equity of 22.54% and a net margin of 8.55%. As a group, sell-side analysts anticipate that Mercury General Co. will post -0.5 earnings per share for the current year.

Mercury General Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors 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 dividend on an annualized basis and a yield of 1.94%. Mercury General's payout ratio is currently 24.61%.

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.