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

Globeflex Capital L P boosted its holdings in shares of Mercury General Corporation (NYSE:MCY) by 397.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,133 shares of the insurance provider’s stock after buying an additional 25,672 shares during the period. Globeflex Capital L P’s holdings in Mercury General were worth $3,022,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MCY. Wall Street Zen upgraded shares of Mercury General from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 31st. Zacks Research raised Mercury General from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat, Mercury General currently has an average rating of “Strong Buy” and a consensus target price of $100.00.

Mercury General Trading Up 0.9%

NYSE MCY opened at $97.59 on Friday. The company has a market cap of $5.41 billion, a PE ratio of 6.43 and a beta of 0.91. 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 $62.25 and a 12 month high of $103.86. The stock has a 50 day moving average of $95.72 and a 200-day moving average of $92.41.

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

Mercury General Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be issued a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, June 11th. Mercury General’s payout ratio is currently 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.