SG Americas Securities LLC Makes New $1.55 Million Investment in Mercury General Corporation $MCY

SG Americas Securities LLC purchased a new stake in shares of Mercury General Corporation (NYSE:MCY) during the 3rd quarter, Holdings Channel reports. The fund purchased 18,261 shares of the insurance provider’s stock, valued at approximately $1,548,000.

Several other hedge funds have also added to or reduced their stakes in MCY. EverSource Wealth Advisors LLC lifted its position in 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 purchasing an additional 798 shares during the period. Brevan Howard Capital Management LP acquired a new stake in shares of Mercury General during the 2nd quarter worth approximately $208,000. Blair William & Co. IL bought a new stake in shares of Mercury General during the second quarter worth approximately $219,000. Institute for Wealth Management LLC. acquired a new position in Mercury General in the third quarter valued at approximately $221,000. Finally, Handelsbanken Fonder AB bought a new position in Mercury General in the second quarter valued at approximately $226,000. Institutional investors own 42.39% of the company’s stock.

Mercury General Stock Performance

Shares of Mercury General stock opened at $91.36 on Friday. 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 has a market cap of $5.06 billion, a price-to-earnings ratio of 11.52 and a beta of 0.93. The stock’s 50-day moving average is $91.15 and its 200-day moving average is $81.03. Mercury General Corporation has a one year low of $46.81 and a one year high of $96.50.

Mercury General (NYSE:MCY) last announced its earnings results on Tuesday, November 4th. The insurance provider reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $1.71. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.49 billion. Mercury General had a return on equity of 19.53% and a net margin of 7.55%. Equities analysts predict that Mercury General Corporation will post -0.5 earnings per share for the current fiscal year.

Mercury General Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 10th were given 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 was Wednesday, December 10th. Mercury General’s payout ratio is currently 16.02%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MCY. Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 price target (up previously from $90.00) on shares of Mercury General in a research note on Monday, September 22nd. Zacks Research downgraded Mercury General from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Mercury General in a report on Wednesday, October 8th. 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price 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.