Inceptionr LLC Takes $655,000 Position in Mercury General Corporation $MCY

Inceptionr LLC acquired a new stake in shares of Mercury General Corporation (NYSE:MCY) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,431 shares of the insurance provider’s stock, valued at approximately $655,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of Mercury General by 58.8% during the first quarter. Royal Bank of Canada now owns 54,312 shares of the insurance provider’s stock worth $3,036,000 after buying an additional 20,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Mercury General by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,935 shares of the insurance provider’s stock worth $891,000 after purchasing an additional 702 shares during the period. Millennium Management LLC boosted its stake in Mercury General by 8.5% in the 1st quarter. Millennium Management LLC now owns 111,327 shares of the insurance provider’s stock worth $6,223,000 after buying an additional 8,742 shares during the last quarter. Empowered Funds LLC grew its holdings in Mercury General by 1.7% in the first quarter. Empowered Funds LLC now owns 10,923 shares of the insurance provider’s stock valued at $611,000 after purchasing an additional 185 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Mercury General by 194.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,209 shares of the insurance provider’s stock valued at $81,000 after buying an additional 798 shares during the period. Institutional investors and hedge funds own 42.39% of the company’s stock.

Mercury General Stock Performance

Mercury General stock opened at $106.97 on Friday. Mercury General Corporation has a 12-month low of $66.57 and a 12-month high of $113.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.44 and a quick ratio of 0.44. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 7.05 and a beta of 0.89. The firm’s fifty day moving average price is $103.94 and its 200 day moving average price is $95.76.

Mercury General (NYSE:MCY) last announced its earnings results 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 return on equity of 32.94% and a net margin of 13.68%.The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.46 billion. On average, research analysts forecast that Mercury General Corporation will post 11.5 EPS for the current fiscal year.

Mercury General Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were issued a dividend of $0.3175 per share. The ex-dividend date was Thursday, June 11th. This represents a $1.27 annualized dividend and a yield of 1.2%. Mercury General’s payout ratio is currently 8.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MCY shares. Wall Street Zen upgraded Mercury General from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Zacks Research downgraded shares of Mercury General from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Mercury General in a research note on Thursday, June 4th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average 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.