Versor Investments LP Has $339,000 Holdings in Mercury General Corporation $MCY

Versor Investments LP lessened its holdings in shares of Mercury General Corporation (NYSE:MCY) by 71.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,600 shares of the insurance provider’s stock after selling 8,800 shares during the period. Versor Investments LP’s holdings in Mercury General were worth $339,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Swiss Life Asset Management Ltd acquired a new position in shares of Mercury General during the fourth quarter worth $282,000. Denali Advisors LLC acquired a new position in Mercury General in the fourth quarter valued at $376,000. Sequoia Financial Advisors LLC acquired a new position in Mercury General in the fourth quarter valued at $276,000. Strs Ohio lifted its holdings in Mercury General by 53.7% in the fourth quarter. Strs Ohio now owns 10,300 shares of the insurance provider’s stock valued at $969,000 after buying an additional 3,600 shares during the period. Finally, Torren Management LLC acquired a new position in Mercury General in the fourth quarter valued at $84,000. Institutional investors and hedge funds own 42.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Mercury General in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Mercury General from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Finally, Zacks Research lowered shares of Mercury General from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Mercury General currently has a consensus rating of “Buy” and a consensus target price of $100.00.

Mercury General Price Performance

MCY stock opened at $98.09 on Friday. The company’s fifty day simple moving average is $92.67 and its 200 day simple moving average is $90.58. Mercury General Corporation has a 12-month low of $59.01 and a 12-month high of $102.37. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 6.47 and a beta of 0.92. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.22.

Mercury General (NYSE:MCY) last announced its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $2.15 by $1.35. Mercury General had a net margin of 13.68% and a return on equity of 32.94%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.46 billion. On average, analysts expect that Mercury General Corporation will post 9 earnings per share for the current year.

Mercury General Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be issued a dividend of $0.3175 per share. The ex-dividend date is Thursday, June 11th. This represents a $1.27 annualized dividend and a dividend yield of 1.3%. Mercury General’s dividend payout ratio is currently 8.37%.

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.