Mercury General Corporation $MCY Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its holdings in shares of Mercury General Corporation (NYSE:MCY) by 34.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,438 shares of the insurance provider’s stock after acquiring an additional 41,793 shares during the quarter. BNP Paribas Financial Markets’ holdings in Mercury General were worth $15,279,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in Mercury General during the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Mercury General during the 3rd quarter worth $34,000. Jones Financial Companies Lllp increased its stake in Mercury General by 236.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 457 shares of the insurance provider’s stock worth $38,000 after buying an additional 321 shares during the period. Caitlin John LLC purchased a new stake in Mercury General during the 3rd quarter worth $41,000. Finally, IFP Advisors Inc increased its stake in Mercury General by 79.4% during the 4th quarter. IFP Advisors Inc now owns 506 shares of the insurance provider’s stock worth $48,000 after buying an additional 224 shares during the period. Hedge funds and other institutional investors own 42.39% of the company’s stock.

Wall Street Analyst Weigh In

MCY has been the topic of several analyst reports. Wall Street Zen raised shares of Mercury General from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 31st. Zacks Research raised shares of Mercury General from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Two equities research analysts have 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.com, the company has an average rating of “Strong Buy” and an average target price of $100.00.

Mercury General Price Performance

MCY opened at $101.27 on Friday. The company has a 50-day moving average of $95.98 and a 200-day moving average of $92.47. The company has a market capitalization of $5.61 billion, a P/E ratio of 6.68 and a beta of 0.91. Mercury General Corporation has a 1-year low of $62.25 and a 1-year high of $103.86. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.44 and a current ratio of 0.44.

Mercury General (NYSE:MCY) last released its earnings results on Tuesday, May 5th. The insurance provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $2.15 by $1.35. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.46 billion. Mercury General had a net margin of 13.68% and a return on equity of 32.94%. Equities analysts expect that Mercury General Corporation will post 11.38 EPS for the current fiscal year.

Mercury General Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be given a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.27 annualized dividend and a dividend yield of 1.3%. Mercury General’s payout ratio is presently 8.37%.

Mercury General Profile

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.