6,700 Shares in Mercury General Corporation $MCY Bought by Strs Ohio

Strs Ohio bought a new stake in Mercury General Corporation (NYSE:MCY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,700 shares of the insurance provider’s stock, valued at approximately $568,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Merit Financial Group LLC raised its position in shares of Mercury General by 3.7% in the 3rd quarter. Merit Financial Group LLC now owns 3,534 shares of the insurance provider’s stock valued at $300,000 after acquiring an additional 127 shares during the period. Amalgamated Bank increased its stake in Mercury General by 1.9% in the third quarter. Amalgamated Bank now owns 7,726 shares of the insurance provider’s stock valued at $655,000 after purchasing an additional 141 shares in the last quarter. Franklin Resources Inc. raised its holdings in Mercury General by 3.0% in the second quarter. Franklin Resources Inc. now owns 5,233 shares of the insurance provider’s stock worth $352,000 after purchasing an additional 154 shares during the period. Empowered Funds LLC boosted its position 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 purchasing an additional 185 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Mercury General by 7.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,826 shares of the insurance provider’s stock valued at $460,000 after buying an additional 464 shares during the period. Institutional investors own 42.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Zacks Research downgraded Mercury General from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Mercury General in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $100.00.

Mercury General Price Performance

Shares of NYSE MCY opened at $87.58 on Friday. The company has a fifty day moving average price of $91.13 and a 200 day moving average price of $82.64. The firm has a market cap of $4.85 billion, a PE ratio of 11.04 and a beta of 0.93. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.26. Mercury General Corporation has a 1-year low of $47.06 and a 1-year high of $96.50.

Mercury General (NYSE:MCY) last issued its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $1.71. The company 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%. Research analysts predict that Mercury General Corporation will post -0.5 earnings per share for the current fiscal year.

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.