Twinbeech Capital LP Invests $925,000 in Mercury General Co. (NYSE:MCY)

Twinbeech Capital LP purchased a new stake in shares of Mercury General Co. (NYSE:MCY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,915 shares of the insurance provider's stock, valued at approximately $925,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tidal Investments LLC increased its position in shares of Mercury General by 23.4% during the fourth quarter. Tidal Investments LLC now owns 6,361 shares of the insurance provider's stock valued at $423,000 after acquiring an additional 1,208 shares in the last quarter. Sherbrooke Park Advisers LLC increased its position in shares of Mercury General by 92.1% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 6,531 shares of the insurance provider's stock valued at $434,000 after acquiring an additional 3,131 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Mercury General by 5.2% during the fourth quarter. Point72 Asset Management L.P. now owns 218,312 shares of the insurance provider's stock valued at $14,513,000 after acquiring an additional 10,812 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Mercury General by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 8,067 shares of the insurance provider's stock valued at $536,000 after acquiring an additional 2,484 shares in the last quarter. Finally, NDVR Inc. increased its position in shares of Mercury General by 11.2% during the fourth quarter. NDVR Inc. now owns 3,695 shares of the insurance provider's stock valued at $246,000 after acquiring an additional 371 shares in the last quarter. Institutional investors own 42.39% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on MCY shares. Wall Street Zen raised shares of Mercury General from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Raymond James raised shares of Mercury General from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $70.00 to $80.00 in a research report on Wednesday, February 12th.

Mercury General Stock Performance

NYSE:MCY traded down $0.12 during trading hours on Friday, reaching $59.79. The company had a trading volume of 204,111 shares, compared to its average volume of 407,879. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29. Mercury General Co. has a 52 week low of $44.19 and a 52 week high of $80.72. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 7.08 and a beta of 0.90. The firm's 50 day moving average price is $56.06 and its 200-day moving average price is $59.83.

Mercury General (NYSE:MCY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The insurance provider reported ($2.29) EPS for the quarter, topping analysts' consensus estimates of ($4.00) by $1.71. Mercury General had a net margin of 8.55% and a return on equity of 22.54%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.36 billion. On average, analysts forecast that Mercury General Co. will post -0.5 EPS for the current year.

Mercury General Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, June 12th. Mercury General's dividend payout ratio is presently 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.