Mackay Shields LLC Takes $822,000 Position in Mercury General Co. (NYSE:MCY)

Mackay Shields LLC acquired a new stake in shares of Mercury General Co. (NYSE:MCY) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 15,904 shares of the insurance provider’s stock, valued at approximately $822,000.

A number of other large investors have also recently bought and sold shares of the business. Ibex Investors LLC purchased a new stake in Mercury General in the 4th quarter worth approximately $213,000. United Services Automobile Association boosted its holdings in shares of Mercury General by 58.8% in the 4th quarter. United Services Automobile Association now owns 6,697 shares of the insurance provider’s stock valued at $346,000 after purchasing an additional 2,481 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Mercury General by 331.4% in the 4th quarter. Citigroup Inc. now owns 9,509 shares of the insurance provider’s stock valued at $492,000 after purchasing an additional 7,305 shares during the last quarter. Parametrica Management Ltd acquired a new position in shares of Mercury General in the 4th quarter valued at $343,000. Finally, Martingale Asset Management L P boosted its holdings in shares of Mercury General by 91.7% in the 4th quarter. Martingale Asset Management L P now owns 39,308 shares of the insurance provider’s stock valued at $2,033,000 after purchasing an additional 18,801 shares during the last quarter. Institutional investors own 48.70% of the company’s stock.

In other news, Director George Gwyer Braunegg purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $50.86 per share, with a total value of $25,430.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 34.20% of the company’s stock.

MCY has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Mercury General from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Zacks Investment Research lowered shares of Mercury General from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 2nd.

Shares of NYSE:MCY traded down $0.15 during midday trading on Friday, hitting $51.10. 152,672 shares of the company’s stock traded hands, compared to its average volume of 364,526. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 28.39 and a beta of 0.23. Mercury General Co. has a twelve month low of $43.46 and a twelve month high of $61.83.

Mercury General (NYSE:MCY) last posted its earnings results on Monday, February 11th. The insurance provider reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($1.00). Mercury General had a negative net margin of 0.17% and a positive return on equity of 5.91%. The business had revenue of $850.70 million for the quarter, compared to analyst estimates of $832.44 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The business’s revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that Mercury General Co. will post 3.6 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.627 per share. This represents a $2.51 annualized dividend and a yield of 4.91%. The ex-dividend date was Wednesday, March 13th. Mercury General’s dividend payout ratio (DPR) is 139.44%.

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Mercury General 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, fire, and umbrella insurance. Its automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners' insurance products cover dwelling, liability, personal property, fire, and other hazards.

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Institutional Ownership by Quarter for Mercury General (NYSE:MCY)

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