Inspire Investing LLC bought a new stake in shares of Mercury General Co. (NYSE:MCY – Get Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,269 shares of the insurance provider’s stock, valued at approximately $235,000.
Other institutional investors have also made changes to their positions in the company. Moors & Cabot Inc. bought a new stake in shares of Mercury General during the 3rd quarter valued at about $26,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Mercury General during the 4th quarter worth approximately $45,000. IFP Advisors Inc raised its stake in Mercury General by 17.2% during the 4th quarter. IFP Advisors Inc now owns 1,388 shares of the insurance provider’s stock worth $76,000 after buying an additional 204 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Mercury General by 36.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,978 shares of the insurance provider’s stock worth $219,000 after buying an additional 1,073 shares during the period. Finally, Lindenwold Advisors acquired a new position in Mercury General during the 4th quarter worth approximately $258,000. Institutional investors own 40.01% of the company’s stock.
Shares of Mercury General stock opened at $45.36 on Friday. The company has a market cap of $2.51 billion, a PE ratio of -44.47 and a beta of 0.45. Mercury General Co. has a 52 week low of $42.73 and a 52 week high of $64.59. The business has a 50 day moving average price of $47.20 and a 200-day moving average price of $51.41. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20.
Mercury General (NYSE:MCY – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The insurance provider reported ($0.77) EPS for the quarter, missing the consensus estimate of $0.65 by ($1.42). The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1 billion. Mercury General had a positive return on equity of 2.05% and a negative net margin of 1.47%. During the same period last year, the company earned $1.34 earnings per share. As a group, research analysts anticipate that Mercury General Co. will post -0.7 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were given a dividend of $0.635 per share. This represents a $2.54 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date was Wednesday, June 15th. Mercury General’s payout ratio is -249.02%.
MCY has been the topic of a number of research reports. TheStreet downgraded Mercury General from a “b” rating to a “c+” rating in a research note on Friday, May 6th. StockNews.com assumed coverage on Mercury General in a research note on Thursday, March 31st. They set a “hold” rating on the stock.
About Mercury General (Get Rating)
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, fire, and other hazards.
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