Fox Run Management L.L.C. Takes Position in Mercury General Corporation $MCY

Fox Run Management L.L.C. bought a new stake in Mercury General Corporation (NYSE:MCY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,628 shares of the insurance provider’s stock, valued at approximately $906,000.

Several other large investors have also modified their holdings of MCY. Financial Management Professionals Inc. acquired a new position in shares of Mercury General in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Mercury General in the 3rd quarter valued at $34,000. Jones Financial Companies Lllp boosted its holdings in shares of Mercury General by 236.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 457 shares of the insurance provider’s stock valued at $38,000 after buying an additional 321 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of Mercury General in the 4th quarter valued at $38,000. Finally, Caitlin John LLC acquired a new position in shares of Mercury General in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 42.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Mercury General from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Mercury General from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Mercury General in a report on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Strong Buy” and a consensus price target of $100.00.

Mercury General Stock Up 0.5%

MCY stock opened at $101.63 on Thursday. Mercury General Corporation has a one year low of $62.25 and a one year high of $103.86. The stock has a market capitalization of $5.63 billion, a PE ratio of 6.70 and a beta of 0.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.44 and a current ratio of 0.44. The company has a fifty day moving average of $96.82 and a 200-day moving average of $92.77.

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

Mercury General Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be paid a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, June 11th. Mercury General’s dividend payout ratio (DPR) is 8.37%.

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.