Verition Fund Management LLC increased its holdings in Mercury General Co. (NYSE:MCY) by 17.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,567 shares of the insurance provider’s stock after buying an additional 2,030 shares during the quarter. Verition Fund Management LLC’s holdings in Mercury General were worth $725,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Pinebridge Investments L.P. bought a new position in Mercury General in the 4th quarter worth approximately $152,000. Tower Research Capital LLC TRC grew its holdings in Mercury General by 76.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,313 shares of the insurance provider’s stock worth $177,000 after buying an additional 1,439 shares in the last quarter. Stifel Financial Corp bought a new position in Mercury General in the 3rd quarter worth approximately $206,000. Timber Hill LLC bought a new position in Mercury General in the 4th quarter worth approximately $209,000. Finally, Private Advisor Group LLC bought a new position in Mercury General in the 3rd quarter worth approximately $244,000. 46.32% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research lowered Mercury General from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd.
Mercury General Co. (MCY) opened at $47.23 on Tuesday. Mercury General Co. has a fifty-two week low of $41.40 and a fifty-two week high of $63.23. The stock has a market capitalization of $2,660.37, a P/E ratio of 29.50, a P/E/G ratio of 0.76 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.43 and a quick ratio of 0.43.
Mercury General (NYSE:MCY) last issued its quarterly earnings data on Monday, February 5th. The insurance provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.18). Mercury General had a return on equity of 5.14% and a net margin of 4.24%. The business had revenue of $779.20 million during the quarter, compared to the consensus estimate of $847.35 million. During the same period last year, the company earned $0.58 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. analysts anticipate that Mercury General Co. will post 2.5 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a $0.625 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $2.50 dividend on an annualized basis and a yield of 5.29%. Mercury General’s dividend payout ratio (DPR) is 95.42%.
Mercury General Profile
Mercury General Corporation is an insurance holding company. As of December 31, 2016, the Company and its subsidiaries were engaged in writing personal automobile insurance through 14 insurance subsidiaries in 11 states, principally California. Its segments include Property and Casualty Lines, and Other Lines.
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