14,811 Shares in Mercury General Co. (NYSE:MCY) Bought by Intech Investment Management LLC

Intech Investment Management LLC acquired a new position in shares of Mercury General Co. (NYSE:MCY) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 14,811 shares of the insurance provider’s stock, valued at approximately $933,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Mercury General by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 3,256,765 shares of the insurance provider’s stock worth $168,049,000 after purchasing an additional 48,508 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Mercury General by 132.3% during the 3rd quarter. Victory Capital Management Inc. now owns 27,917 shares of the insurance provider’s stock worth $1,758,000 after purchasing an additional 15,898 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Mercury General by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 52,688 shares of the insurance provider’s stock worth $2,800,000 after purchasing an additional 8,976 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Mercury General by 1,753.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,168 shares of the insurance provider’s stock worth $137,000 after purchasing an additional 2,051 shares during the last quarter. Finally, TD Asset Management Inc purchased a new stake in shares of Mercury General during the 2nd quarter worth $515,000. 42.39% of the stock is currently owned by hedge funds and other institutional investors.

Mercury General Trading Up 0.6 %

Shares of NYSE:MCY opened at $78.85 on Friday. The business’s 50-day moving average is $68.41 and its 200 day moving average is $61.24. Mercury General Co. has a 1 year low of $36.37 and a 1 year high of $79.76. The firm has a market capitalization of $4.37 billion, a P/E ratio of 7.81 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.33 and a quick ratio of 0.33.

Mercury General (NYSE:MCY) last announced its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $1.39. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the company posted $1.14 EPS. On average, research analysts predict that Mercury General Co. will post 6.35 earnings per share for the current fiscal year.

Mercury General Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Thursday, December 12th will be issued a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, December 12th. Mercury General’s dividend payout ratio is presently 12.59%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Mercury General from a “strong-buy” rating to a “buy” rating in a research report on Thursday.

About Mercury General

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, and other coverages.