Twinbeech Capital LP acquired a new stake in shares of Mercury General Co. (NYSE:MCY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,915 shares of the insurance provider's stock, valued at approximately $925,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Mercury General by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 3,670,014 shares of the insurance provider's stock valued at $243,983,000 after purchasing an additional 165,629 shares during the period. Dimensional Fund Advisors LP boosted its position in Mercury General by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,056,821 shares of the insurance provider's stock worth $136,739,000 after acquiring an additional 16,299 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in Mercury General during the 4th quarter worth $113,252,000. Arrowstreet Capital Limited Partnership boosted its position in Mercury General by 0.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 485,767 shares of the insurance provider's stock worth $32,294,000 after acquiring an additional 4,372 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in Mercury General by 0.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 370,140 shares of the insurance provider's stock worth $24,607,000 after acquiring an additional 1,835 shares during the period. Institutional investors and hedge funds own 42.39% of the company's stock.
Mercury General Stock Performance
MCY stock traded up $1.08 during trading on Tuesday, reaching $60.85. 126,009 shares of the company's stock were exchanged, compared to its average volume of 646,552. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.29. Mercury General Co. has a 1-year low of $44.19 and a 1-year high of $80.72. The company's fifty day moving average price is $56.12 and its 200-day moving average price is $59.64. The firm has a market cap of $3.37 billion, a PE ratio of 7.20 and a beta of 0.90.
Mercury General (NYSE:MCY - Get Free Report) last posted its quarterly earnings data 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 return on equity of 22.54% and a net margin of 8.55%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, research analysts expect that Mercury General Co. will post -0.5 EPS for the current fiscal year.
Mercury General Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Thursday, June 12th. Mercury General's dividend payout ratio is presently 24.61%.
Analyst Ratings Changes
MCY has been the subject of a number of analyst reports. Wall Street Zen upgraded Mercury General from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Raymond James upgraded Mercury General from an "outperform" rating to a "strong-buy" rating and boosted their price target for the stock from $70.00 to $80.00 in a research report on Wednesday, February 12th.
Get Our Latest Stock Report on Mercury General
About Mercury General
(
Free Report)
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.
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