First Trust Advisors LP boosted its position in Mercury General Co. (NYSE:MCY) by 210.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 236,148 shares of the insurance provider’s stock after purchasing an additional 159,989 shares during the quarter. First Trust Advisors LP owned about 0.43% of Mercury General worth $11,507,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCY. Carmichael Hill & Associates Inc. acquired a new position in Mercury General in the 4th quarter valued at $57,000. CFM Wealth Partners LLC acquired a new position in Mercury General in the 4th quarter valued at $73,000. NEXT Financial Group Inc raised its stake in Mercury General by 75.1% in the 4th quarter. NEXT Financial Group Inc now owns 2,047 shares of the insurance provider’s stock valued at $100,000 after purchasing an additional 878 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in Mercury General by 14.1% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,793 shares of the insurance provider’s stock valued at $156,000 after purchasing an additional 346 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Mercury General in the 4th quarter valued at $170,000. 41.91% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:MCY opened at $51.80 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $48.84 and a two-hundred day moving average of $51.40. The stock has a market cap of $2.97 billion, a P/E ratio of 8.98, a PEG ratio of 0.44 and a beta of 0.22. Mercury General Co. has a 52-week low of $46.69 and a 52-week high of $65.22.
Mercury General (NYSE:MCY) last issued its earnings results on Monday, February 10th. The insurance provider reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The company had revenue of $896.10 million during the quarter, compared to analysts’ expectations of $884.63 million. Mercury General had a return on equity of 8.17% and a net margin of 8.06%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.26) EPS. On average, equities analysts anticipate that Mercury General Co. will post 3.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.86%. The ex-dividend date is Monday, March 16th. Mercury General’s payout ratio is currently 96.92%.
MCY has been the subject of several analyst reports. Zacks Investment Research cut Mercury General from a “hold” rating to a “strong sell” rating in a report on Thursday. Keefe, Bruyette & Woods cut Mercury General from an “outperform” rating to a “market perform” rating and set a $50.00 target price for the company. in a report on Monday, October 28th.
Mercury General Company Profile
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, fire, and umbrella insurance. Its automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners' insurance products cover dwelling, liability, personal property, fire, and other hazards.
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