Globeflex Capital L P Has $3.02 Million Position in Mercury General Corporation $MCY

Globeflex Capital L P increased its position in Mercury General Corporation (NYSE:MCY) by 397.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,133 shares of the insurance provider’s stock after buying an additional 25,672 shares during the period. Globeflex Capital L P owned 0.06% of Mercury General worth $3,022,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MCY. Royal Bank of Canada increased its holdings in Mercury General by 58.8% in the first quarter. Royal Bank of Canada now owns 54,312 shares of the insurance provider’s stock worth $3,036,000 after buying an additional 20,115 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Mercury General by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,935 shares of the insurance provider’s stock worth $891,000 after buying an additional 702 shares during the last quarter. Millennium Management LLC increased its holdings in Mercury General by 8.5% in the first quarter. Millennium Management LLC now owns 111,327 shares of the insurance provider’s stock worth $6,223,000 after buying an additional 8,742 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Mercury General by 1.7% during the 1st quarter. Empowered Funds LLC now owns 10,923 shares of the insurance provider’s stock valued at $611,000 after acquiring an additional 185 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Mercury General by 194.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,209 shares of the insurance provider’s stock valued at $81,000 after acquiring an additional 798 shares in the last quarter. Institutional investors and hedge funds own 42.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MCY shares. Zacks Research raised Mercury General from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded Mercury General from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 31st. 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 currently has an average rating of “Strong Buy” and a consensus price target of $100.00.

Mercury General Trading Up 0.9%

Shares of MCY stock opened at $97.59 on Friday. Mercury General Corporation has a 12 month low of $62.25 and a 12 month high of $103.86. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $95.72 and its two-hundred day moving average is $92.41. The company has a market cap of $5.41 billion, a PE ratio of 6.43 and a beta of 0.91.

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

Mercury General Dividend Announcement

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