Inspire Investing LLC Has $2.12 Million Position in Mercury General Corporation $MCY

Inspire Investing LLC boosted its holdings in shares of Mercury General Corporation (NYSE:MCY) by 30.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,074 shares of the insurance provider’s stock after acquiring an additional 5,622 shares during the quarter. Inspire Investing LLC’s holdings in Mercury General were worth $2,122,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MCY. Financial Management Professionals Inc. bought a new position in shares of Mercury General during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new position in Mercury General during the third quarter worth $34,000. Hilton Head Capital Partners LLC bought a new position in Mercury General during the fourth quarter valued at about $38,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Mercury General in the fourth quarter worth about $40,000. Finally, IFP Advisors Inc boosted its stake in shares of Mercury General by 79.4% during the 4th quarter. IFP Advisors Inc now owns 506 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 224 shares in the last quarter. 42.39% of the stock is currently owned by institutional investors and hedge funds.

Mercury General Price Performance

NYSE:MCY opened at $106.89 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.44 and a quick ratio of 0.44. Mercury General Corporation has a one year low of $64.21 and a one year high of $108.55. The company has a fifty day moving average price of $100.21 and a 200 day moving average price of $93.96. The stock has a market cap of $5.92 billion, a P/E ratio of 7.05 and a beta of 0.91.

Mercury General (NYSE:MCY) last posted its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $1.35. Mercury General had a net margin of 13.68% and a return on equity of 32.94%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.46 billion. Analysts anticipate that Mercury General Corporation will post 11.38 earnings per share for the current year.

Mercury General Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, June 11th. Mercury General’s payout ratio is currently 8.37%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wall Street Zen downgraded Mercury General from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mercury General in a report on Thursday, June 4th. Finally, Zacks Research upgraded shares of Mercury General from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, Mercury General has a consensus rating of “Strong Buy” and an average price target of $100.00.

Mercury General Company 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.