Deutsche Bank AG Buys Shares of 31,116 Mercury General Corporation $MCY

Deutsche Bank AG bought a new stake in Mercury General Corporation (NYSE:MCY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 31,116 shares of the insurance provider’s stock, valued at approximately $3,318,000.

Several other large investors have also modified their holdings of MCY. Cetera Investment Advisers grew its position in Mercury General by 2.2% in the 1st quarter. Cetera Investment Advisers now owns 5,284 shares of the insurance provider’s stock valued at $466,000 after buying an additional 112 shares during the last quarter. Hilton Head Capital Partners LLC raised its position in Mercury General by 32.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 541 shares of the insurance provider’s stock worth $48,000 after buying an additional 133 shares during the last quarter. ProShare Advisors LLC raised its position in Mercury General by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 5,230 shares of the insurance provider’s stock worth $492,000 after buying an additional 164 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Mercury General by 3.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,473 shares of the insurance provider’s stock worth $515,000 after acquiring an additional 173 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Mercury General by 1.7% during the first quarter. Empowered Funds LLC now owns 10,923 shares of the insurance provider’s stock worth $611,000 after acquiring an additional 185 shares during the period. Hedge funds and other institutional investors own 42.39% of the company’s stock.

Mercury General Price Performance

Shares of NYSE MCY opened at $104.69 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.47 and a current ratio of 0.47. Mercury General Corporation has a one year low of $74.29 and a one year high of $113.06. The firm has a market capitalization of $5.80 billion, a P/E ratio of 6.19 and a beta of 0.90. The company’s fifty day moving average is $106.79 and its two-hundred day moving average is $98.63.

Mercury General (NYSE:MCY) last announced its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $3.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.99. Mercury General had a net margin of 14.77% and a return on equity of 31.98%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.52 billion. Analysts forecast that Mercury General Corporation will post 12.75 EPS for the current fiscal year.

Mercury General Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, September 10th. Mercury General’s dividend payout ratio is presently 7.51%.

Analyst Upgrades and Downgrades

MCY has been the subject of several analyst reports. Zacks Research raised shares of Mercury General from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mercury General in a report on Thursday, June 4th. Finally, Wall Street Zen upgraded Mercury General from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Two equities 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 data from MarketBeat.com, the company currently has an average rating of “Strong Buy” and an average target price of $100.00.

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.