Integrated Quantitative Investments LLC Buys New Shares in Mercury General Co. (NYSE:MCY)

Integrated Quantitative Investments LLC acquired a new position in shares of Mercury General Co. (NYSE:MCY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,830 shares of the insurance provider's stock, valued at approximately $986,000.

Other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in Mercury General by 145.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 554 shares of the insurance provider's stock worth $37,000 after buying an additional 328 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Mercury General in the 4th quarter valued at $44,000. Millstone Evans Group LLC purchased a new stake in shares of Mercury General in the 4th quarter valued at $60,000. Steward Partners Investment Advisory LLC bought a new position in shares of Mercury General during the 4th quarter valued at $68,000. Finally, KBC Group NV raised its position in Mercury General by 58.6% in the 4th quarter. KBC Group NV now owns 1,299 shares of the insurance provider's stock worth $86,000 after purchasing an additional 480 shares during the period. 42.39% of the stock is currently owned by institutional investors.

Mercury General Stock Up 0.0 %

MCY stock traded up $0.02 during midday trading on Wednesday, hitting $49.60. The stock had a trading volume of 89,671 shares, compared to its average volume of 394,596. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 5.88 and a beta of 0.81. The business has a 50-day moving average of $53.77 and a two-hundred day moving average of $61.97. Mercury General Co. has a 52-week low of $44.19 and a 52-week high of $80.72.

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Mercury General (NYSE:MCY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.84. Mercury General had a net margin of 8.55% and a return on equity of 22.54%. As a group, equities research analysts forecast that Mercury General Co. will post -0.5 earnings per share for the current fiscal year.

Mercury General Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.3175 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $1.27 annualized dividend and a yield of 2.56%. This is a boost from Mercury General's previous quarterly dividend of $0.32. Mercury General's dividend payout ratio is currently 15.03%.

Analysts Set New Price Targets

MCY has been the subject of several analyst reports. StockNews.com cut Mercury General from a "buy" rating to a "hold" rating in a report on Thursday, February 13th. Raymond James raised shares of Mercury General from an "outperform" rating to a "strong-buy" rating and lifted their target price for the company from $70.00 to $80.00 in a research note on Wednesday, February 12th.

About Mercury General

Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. The company also writes homeowners, commercial automobile, commercial property, mechanical protection, and umbrella insurance products. Its automobile insurance products include collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners insurance products comprise dwelling, liability, personal property, and other coverages.