Measured Wealth Private Client Group LLC Takes Position in Mercury General Corporation $MCY

Measured Wealth Private Client Group LLC purchased a new stake in Mercury General Corporation (NYSE:MCY) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,280 shares of the insurance provider’s stock, valued at approximately $532,000.

A number of other hedge funds have also bought and sold shares of the business. Mercer Global Advisors Inc. ADV bought a new stake in Mercury General in the 3rd quarter valued at about $449,000. Millennium Management LLC increased its holdings in shares of Mercury General by 16.1% during the third quarter. Millennium Management LLC now owns 89,650 shares of the insurance provider’s stock worth $7,601,000 after purchasing an additional 12,434 shares during the period. Focus Partners Wealth bought a new position in shares of Mercury General during the third quarter worth approximately $286,000. Brevan Howard Capital Management LP raised its position in shares of Mercury General by 109.6% in the third quarter. Brevan Howard Capital Management LP now owns 6,469 shares of the insurance provider’s stock valued at $548,000 after buying an additional 3,383 shares in the last quarter. Finally, Creative Planning acquired a new stake in shares of Mercury General in the third quarter valued at approximately $658,000. 42.39% of the stock is owned by institutional investors.

Mercury General Price Performance

Shares of NYSE:MCY opened at $90.47 on Tuesday. The firm has a 50 day moving average of $89.77 and a 200-day moving average of $86.85. The stock has a market capitalization of $5.01 billion, a PE 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 Corporation has a 12 month low of $47.06 and a 12 month high of $100.06.

Mercury General (NYSE:MCY) last posted its quarterly earnings results on Tuesday, February 17th. The insurance provider reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $1.10. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.37 billion. Mercury General had a net margin of 9.03% and a return on equity of 20.74%. On average, equities research analysts predict that Mercury General Corporation will post -0.5 EPS for the current fiscal 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 $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, March 12th. Mercury General’s dividend payout ratio (DPR) is currently 13.00%.

Analyst Upgrades and Downgrades

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

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.