Versor Investments LP Invests $1.05 Million in Mercury General Corporation $MCY

Versor Investments LP acquired a new stake in Mercury General Corporation (NYSE:MCY) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 12,400 shares of the insurance provider’s stock, valued at approximately $1,051,000.

Several other hedge funds also recently modified their holdings of MCY. Inspire Investing LLC boosted its stake in Mercury General by 223.6% in the 3rd quarter. Inspire Investing LLC now owns 18,820 shares of the insurance provider’s stock worth $1,596,000 after purchasing an additional 13,004 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Mercury General by 16.1% during the second quarter. American Century Companies Inc. now owns 470,905 shares of the insurance provider’s stock valued at $31,711,000 after purchasing an additional 65,441 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Mercury General during the 3rd quarter valued at $3,141,000. Prudential Financial Inc. grew its holdings in shares of Mercury General by 27.9% in the second quarter. Prudential Financial Inc. now owns 63,899 shares of the insurance provider’s stock worth $4,303,000 after acquiring an additional 13,937 shares during the period. Finally, Blair William & Co. IL bought a new stake in shares of Mercury General during the 2nd quarter valued at about $219,000. Institutional investors own 42.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MCY shares. Zacks Research cut Mercury General from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Mercury General in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $100.00.

Mercury General Stock Down 2.9%

Shares of Mercury General stock opened at $92.42 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.45 and a quick ratio of 0.45. The firm’s 50-day moving average is $90.99 and its two-hundred day moving average is $83.84. Mercury General Corporation has a 1 year low of $47.06 and a 1 year high of $96.50. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 11.65 and a beta of 0.94.

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.