Mercury General Co. (NYSE:MCY) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its position in Mercury General Co. (NYSE:MCY - Free Report) by 67.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,253 shares of the insurance provider's stock after acquiring an additional 8,590 shares during the period. Los Angeles Capital Management LLC's holdings in Mercury General were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sheets Smith Wealth Management purchased a new position in shares of Mercury General in the third quarter worth about $360,000. Farther Finance Advisors LLC raised its position in Mercury General by 1,753.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,168 shares of the insurance provider's stock worth $137,000 after buying an additional 2,051 shares during the last quarter. Allworth Financial LP lifted its stake in Mercury General by 1,190.5% during the 3rd quarter. Allworth Financial LP now owns 542 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 500 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Mercury General by 607.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 214,427 shares of the insurance provider's stock valued at $13,505,000 after acquiring an additional 184,121 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Mercury General by 29.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 37,389 shares of the insurance provider's stock worth $2,355,000 after acquiring an additional 8,578 shares during the period. Hedge funds and other institutional investors own 42.39% of the company's stock.

Mercury General Stock Performance

Shares of Mercury General stock traded down $0.05 during trading on Friday, hitting $73.35. 158,514 shares of the company's stock were exchanged, compared to its average volume of 236,488. Mercury General Co. has a 52-week low of $35.62 and a 52-week high of $76.47. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 7.27 and a beta of 0.81. The business has a 50-day simple moving average of $65.43 and a 200-day simple moving average of $59.92.

Mercury General (NYSE:MCY - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $1.39. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the business posted $1.14 EPS. On average, research analysts forecast that Mercury General Co. will post 6.35 EPS for the current year.

Mercury General Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Thursday, December 12th will be given a $0.317 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.27 annualized dividend and a yield of 1.73%. Mercury General's dividend payout ratio is presently 12.59%.

Mercury General Company Profile

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.