6,280 Shares in Mercury General Corporation $MCY Bought by Measured Wealth Private Client Group LLC

Measured Wealth Private Client Group LLC acquired a new stake in Mercury General Corporation (NYSE:MCY) during the 3rd quarter, Holdings Channel reports. The fund acquired 6,280 shares of the insurance provider’s stock, valued at approximately $532,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new position in shares of Mercury General in the third quarter worth about $34,000. Jones Financial Companies Lllp boosted its stake in shares of Mercury General by 236.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 457 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 321 shares in the last quarter. Caitlin John LLC bought a new stake in shares of Mercury General during the 3rd quarter valued at approximately $41,000. State of Wyoming bought a new stake in shares of Mercury General during the 3rd quarter valued at approximately $72,000. Finally, EverSource Wealth Advisors LLC increased its position in 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 purchasing an additional 798 shares in the last quarter. Institutional investors own 42.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Mercury General in a research note on Thursday, January 22nd. Zacks Research raised shares of Mercury General from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen upgraded shares of Mercury General from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, Mercury General presently has an average rating of “Strong Buy” and a consensus price target of $100.00.

Mercury General Stock Performance

Shares of MCY stock opened at $90.47 on Tuesday. The business’s 50-day moving average price is $89.77 and its 200-day moving average price is $86.85. Mercury General Corporation has a 12 month low of $47.06 and a 12 month high of $100.06. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 9.26 and a beta of 0.92. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.24.

Mercury General (NYSE:MCY) last released its quarterly earnings data on Tuesday, February 17th. The insurance provider reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $1.10. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.37 billion. Mercury General had a return on equity of 20.74% and a net margin of 9.03%. Equities research analysts forecast that Mercury General Corporation will post -0.5 EPS for the current year.

Mercury General Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, March 12th. Mercury General’s payout ratio is presently 13.00%.

Mercury General Company 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.