Aptus Capital Advisors LLC Acquires Shares of 78,514 Mercury General Corporation $MCY

Aptus Capital Advisors LLC acquired a new stake in Mercury General Corporation (NYSE:MCY) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 78,514 shares of the insurance provider’s stock, valued at approximately $6,656,000. Aptus Capital Advisors LLC owned about 0.14% of Mercury General at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of MCY. Merit Financial Group LLC lifted its holdings in shares of Mercury General by 3.7% in the 3rd quarter. Merit Financial Group LLC now owns 3,534 shares of the insurance provider’s stock worth $300,000 after acquiring an additional 127 shares during the last quarter. Amalgamated Bank lifted its stake in Mercury General by 1.9% in the third quarter. Amalgamated Bank now owns 7,726 shares of the insurance provider’s stock worth $655,000 after purchasing an additional 141 shares during the last quarter. Franklin Resources Inc. lifted its stake in Mercury General by 3.0% in the second quarter. Franklin Resources Inc. now owns 5,233 shares of the insurance provider’s stock worth $352,000 after purchasing an additional 154 shares during the last quarter. Royce & Associates LP boosted its position in shares of Mercury General by 0.6% during the third quarter. Royce & Associates LP now owns 28,511 shares of the insurance provider’s stock valued at $2,417,000 after buying an additional 157 shares during the period. Finally, Savant Capital LLC boosted its position in shares of Mercury General by 1.8% during the third quarter. Savant Capital LLC now owns 9,181 shares of the insurance provider’s stock valued at $778,000 after buying an additional 166 shares during the period. 42.39% of the stock is owned by hedge funds and other institutional investors.

Mercury General Stock Performance

Shares of MCY stock opened at $90.50 on Friday. The company’s 50 day moving average is $90.27 and its 200 day moving average is $86.26. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.24. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 9.26 and a beta of 0.92. Mercury General Corporation has a 52-week low of $47.06 and a 52-week high of $100.06.

Mercury General (NYSE:MCY) last announced its quarterly earnings results on Tuesday, February 17th. The insurance provider reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $1.10. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.37 billion. Mercury General had a return on equity of 20.74% and a net margin of 9.03%. On average, sell-side analysts anticipate that Mercury General Corporation will post -0.5 EPS for the current fiscal year.

Mercury General Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a $0.3175 dividend. The ex-dividend date is Thursday, March 12th. This represents a $1.27 dividend on an annualized basis and a yield of 1.4%. Mercury General’s payout ratio is currently 13.00%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Zacks Research upgraded Mercury General from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 26th. Wall Street Zen upgraded Mercury General from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Mercury General in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Strong Buy” and a consensus target price of $100.00.

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.