Mercury General Co. (NYSE:MCY) Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Mercury General Co. (NYSE:MCY) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,233 shares of the insurance provider’s stock after buying an additional 588 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Mercury General were worth $1,013,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MCY. Castlekeep Investment Advisors LLC purchased a new position in shares of Mercury General in the fourth quarter worth about $113,252,000. Vanguard Group Inc. lifted its position in Mercury General by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 3,670,014 shares of the insurance provider’s stock valued at $243,983,000 after purchasing an additional 165,629 shares during the period. American Century Companies Inc. boosted its holdings in Mercury General by 94.6% in the fourth quarter. American Century Companies Inc. now owns 304,992 shares of the insurance provider’s stock valued at $20,276,000 after purchasing an additional 148,301 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Mercury General by 88.2% in the fourth quarter. AQR Capital Management LLC now owns 216,589 shares of the insurance provider’s stock valued at $14,399,000 after purchasing an additional 101,488 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Mercury General by 233.0% during the 4th quarter. JPMorgan Chase & Co. now owns 133,319 shares of the insurance provider’s stock worth $8,863,000 after purchasing an additional 93,283 shares during the period. 42.39% of the stock is owned by institutional investors and hedge funds.

Mercury General Price Performance

Shares of NYSE MCY opened at $59.79 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market cap of $3.31 billion, a PE ratio of 7.08 and a beta of 0.90. Mercury General Co. has a one year low of $44.19 and a one year high of $80.72. The firm has a fifty day moving average of $56.06 and a 200 day moving average of $59.74.

Mercury General (NYSE:MCY) last released its earnings results on Tuesday, May 6th. The insurance provider reported ($2.29) earnings per share for the quarter, beating the consensus estimate of ($4.00) by $1.71. Mercury General had a return on equity of 22.54% and a net margin of 8.55%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.36 billion. As a group, research analysts predict that Mercury General Co. will post -0.5 EPS for the current fiscal year.

Mercury General Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, June 12th. Mercury General’s dividend payout ratio is currently 24.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MCY shares. 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 report on Wednesday, February 12th. Wall Street Zen upgraded Mercury General from a “hold” rating to a “buy” rating in a research report on Monday, May 12th.

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.