Candriam S.C.A. Invests $5.89 Million in Mercury General Corporation $MCY

Candriam S.C.A. bought a new position in shares of Mercury General Corporation (NYSE:MCY) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 66,774 shares of the insurance provider’s stock, valued at approximately $5,886,000. Candriam S.C.A. owned 0.12% of Mercury General at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MCY. Financial Management Professionals Inc. acquired a new position in shares of Mercury General in the 4th quarter valued at approximately $25,000. Hilton Head Capital Partners LLC bought a new stake in shares of Mercury General during the fourth quarter worth $38,000. Mcguire Capital Advisors Inc. bought a new stake in Mercury General during the 4th quarter worth $40,000. IFP Advisors Inc boosted its position 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. Finally, GAMMA Investing LLC lifted its holdings in shares of Mercury General by 19.2% during the fourth quarter. GAMMA Investing LLC now owns 752 shares of the insurance provider’s stock worth $71,000 after purchasing an additional 121 shares during the period. 42.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on MCY. Zacks Research raised shares of Mercury General from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mercury General in a research report on Thursday, June 4th. Finally, Wall Street Zen upgraded Mercury General from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Two analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Strong Buy” and an average target price of $100.00.

Mercury General Stock Performance

Shares of NYSE:MCY opened at $110.38 on Tuesday. The company has a 50-day moving average price of $102.63 and a 200-day moving average price of $95.01. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 7.28 and a beta of 0.89. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.22. Mercury General Corporation has a 12 month low of $65.77 and a 12 month high of $113.06.

Mercury General (NYSE:MCY) last released its earnings results on Tuesday, May 5th. The insurance provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $1.35. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Mercury General had a return on equity of 32.94% and a net margin of 13.68%. As a group, equities analysts anticipate that Mercury General Corporation will post 11.5 EPS for the current year.

Mercury General Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, June 11th. Mercury General’s payout ratio is 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.