5,750 Shares in Mercury General Corporation $MCY Purchased by Alps Advisors Inc.

Alps Advisors Inc. acquired a new stake in Mercury General Corporation (NYSE:MCY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,750 shares of the insurance provider’s stock, valued at approximately $487,000.

Other hedge funds have also added to or reduced their stakes in the company. Rubric Capital Management LP boosted its holdings in shares of Mercury General by 12.8% in the second quarter. Rubric Capital Management LP now owns 2,054,504 shares of the insurance provider’s stock valued at $138,350,000 after purchasing an additional 232,721 shares during the period. Goldentree Asset Management LP purchased a new stake in shares of Mercury General in the 2nd quarter worth $10,935,000. Sei Investments Co. lifted its holdings in shares of Mercury General by 2,513.7% in the 2nd quarter. Sei Investments Co. now owns 157,893 shares of the insurance provider’s stock worth $10,633,000 after buying an additional 151,852 shares during the period. JPMorgan Chase & Co. grew its position in shares of Mercury General by 79.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 162,648 shares of the insurance provider’s stock worth $10,953,000 after buying an additional 71,844 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in shares of Mercury General by 14.0% during the second quarter. Westwood Holdings Group Inc. now owns 560,670 shares of the insurance provider’s stock valued at $37,756,000 after buying an additional 68,983 shares during the period. 42.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Zacks Research lowered shares of Mercury General from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Mercury General in a report on Thursday, January 22nd. One investment 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 stock. Based on data from MarketBeat, Mercury General currently has a consensus rating of “Buy” and an average target price of $100.00.

Mercury General Stock Down 1.5%

Shares of MCY stock opened at $93.34 on Friday. The stock’s fifty day moving average price is $91.25 and its 200 day moving average price is $84.31. Mercury General Corporation has a 1-year low of $47.06 and a 1-year high of $96.50. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 11.77 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.45 and a quick ratio of 0.45.

Mercury General 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.