LSV Asset Management Purchases New Position in Mercury General Corporation $MCY

LSV Asset Management acquired a new position in shares of Mercury General Corporation (NYSE:MCY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 55,700 shares of the insurance provider’s stock, valued at approximately $4,722,000.

A number of other institutional investors also recently made changes to their positions in MCY. Jones Financial Companies Lllp increased its stake in shares of Mercury General by 236.0% during the third quarter. Jones Financial Companies Lllp now owns 457 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 321 shares during the period. State of Wyoming bought a new stake in Mercury General in the 3rd quarter valued at $72,000. EverSource Wealth Advisors LLC grew its holdings in Mercury General by 194.2% in 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 in the last quarter. AlphaQuest LLC increased its position in Mercury General by 1,612.4% during the 3rd quarter. AlphaQuest LLC now owns 2,209 shares of the insurance provider’s stock worth $187,000 after buying an additional 2,080 shares during the period. Finally, Forum Financial Management LP bought a new position in Mercury General during the 3rd quarter worth $205,000. Institutional investors own 42.39% of the company’s stock.

Mercury General Stock Down 1.5%

MCY stock opened at $93.34 on Monday. The company has a market cap of $5.17 billion, a PE ratio of 11.77 and a beta of 0.94. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.26. Mercury General Corporation has a 52 week low of $47.06 and a 52 week high of $96.50. The business has a 50-day simple moving average of $91.25 and a 200 day simple moving average of $84.51.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MCY shares. Weiss Ratings restated a “buy (b-)” rating on shares of Mercury General in a research note on Thursday, January 22nd. Zacks Research downgraded shares of Mercury General from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. 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.com, the stock presently has a consensus rating of “Buy” and a consensus price target 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.