PEAK6 LLC Makes New $9.36 Million Investment in Mercury General Corporation $MCY

Key Points

• PEAK6 LLC acquired 87,798 shares of Mercury General worth approximately $9.36 million, representing a 0.16% stake. Institutional investors collectively own 42.39% of the insurer.
• 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, or $1.27 annually, yielding about 1.2%; analysts maintain a “Strong Buy” consensus despite a $100 target price below the stock’s $105.77 opening price.

PEAK6 LLC purchased a new stake in Mercury General Corporation (NYSE:MCY - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 87,798 shares of the insurance provider's stock, valued at approximately $9,361,000. PEAK6 LLC owned 0.16% of Mercury General as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Allworth Financial LP acquired a new position in Mercury General in the second quarter valued at approximately $35,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Mercury General during the 4th quarter worth approximately $38,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Mercury General in the 4th quarter worth approximately $40,000. IFP Advisors Inc lifted its holdings in shares of Mercury General by 79.4% in the 4th quarter. IFP Advisors Inc now owns 506 shares of the insurance provider's stock worth $48,000 after purchasing an additional 224 shares during the last quarter. Finally, State of Wyoming acquired a new position in Mercury General during the 2nd quarter valued at approximately $78,000. Institutional investors own 42.39% of the company's stock.

Mercury General Trading Up 0.1%

Shares of MCY stock opened at $105.77 on Monday. Mercury General Corporation has a 1 year low of $74.29 and a 1 year high of $113.06. The firm has a market capitalization of $5.86 billion, a PE ratio of 6.25 and a beta of 0.90. The stock has a fifty day moving average of $106.58 and a two-hundred day moving average of $98.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.47 and a current ratio of 0.47.

Mercury General (NYSE:MCY - Get Free Report) last issued its quarterly 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 company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.52 billion. Mercury General had a return on equity of 31.98% and a net margin of 14.77%. As a group, research analysts expect that Mercury General Corporation will post 12.75 EPS for the current year.

Mercury General Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, September 10th. Mercury General's payout ratio is 7.51%.

Analyst Upgrades and Downgrades

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

About Mercury General

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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