Mercury General Corporation $MCY Stock Position Boosted by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems increased its Mercury General stake by 88.6% in the third quarter, ending with 30,650 shares valued at approximately $3.03 million. Several other institutional investors also initiated or expanded positions, with institutional ownership reaching 42.39%.
• Mercury General reported quarterly EPS of $3.52, beating analyst estimates of $2.53, while revenue totaled $1.68 billion versus expectations of $1.52 billion. Analysts expect full-year EPS of $13.25.
• MCY traded near $103.91, with a $5.76 billion market capitalization and a 6.14 P/E ratio. Research firms have issued positive views, giving the stock a consensus rating of “Strong Buy.”

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Mercury General Corporation (NYSE:MCY - Free Report) by 88.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,650 shares of the insurance provider's stock after purchasing an additional 14,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.06% of Mercury General worth $3,030,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MCY. Convergence Financial LLC bought a new position in shares of Mercury General during the 3rd quarter worth approximately $873,000. Signaturefd LLC lifted its position in shares of Mercury General by 145.7% in the third quarter. Signaturefd LLC now owns 1,231 shares of the insurance provider's stock worth $122,000 after purchasing an additional 730 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Mercury General in the third quarter worth $210,000. Root Financial Partners LLC bought a new stake in shares of Mercury General in the third quarter worth $30,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Mercury General by 60.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,044 shares of the insurance provider's stock worth $301,000 after purchasing an additional 1,150 shares during the last quarter. 42.39% of the stock is owned by institutional investors.

Mercury General Price Performance

NYSE:MCY opened at $103.91 on Tuesday. The company has a market cap of $5.76 billion, a P/E ratio of 6.14 and a beta of 0.89. The firm's fifty day moving average price is $102.20 and its two-hundred day moving average price is $98.61. Mercury General Corporation has a one year low of $74.29 and a one year 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.

Mercury General (NYSE:MCY - Get Free Report) last posted its earnings results on Tuesday, August 4th. The insurance provider reported $3.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.99. Mercury General had a net margin of 14.77% and a return on equity of 31.98%. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.52 billion. Equities analysts expect that Mercury General Corporation will post 13.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCY. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Mercury General in a research report on Tuesday, September 1st. Zacks Research upgraded Mercury General from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. Based on data from MarketBeat, Mercury General currently has a consensus rating of "Strong Buy".

Mercury General Profile

Mercury General Corporation NYSE: MCY is an insurance holding company that writes personal and commercial property and casualty insurance through its subsidiaries. The company is best known for automobile insurance, offering coverage such as liability, collision, comprehensive and uninsured or underinsured motorist protection.

Its product portfolio also includes homeowners, renters, condominium, mobile-home and umbrella insurance, as well as commercial automobile coverage and other related property and casualty products.

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