VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Mercury General Corporation $MCY

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Mercury General Corporation (NYSE:MCY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,250 shares of the insurance provider’s stock, valued at approximately $1,733,000.

Several other large investors also recently made changes to their positions in the company. Allworth Financial LP bought a new stake in Mercury General in the 2nd quarter valued at about $35,000. Hilton Head Capital Partners LLC bought a new position in Mercury General in the fourth quarter worth approximately $38,000. PenderFund Capital Management Ltd. acquired a new stake in Mercury General in the second quarter valued at approximately $44,000. Mcguire Capital Advisors Inc. acquired a new stake in Mercury General in the fourth quarter valued at approximately $40,000. Finally, Caitlin John LLC bought a new stake in shares of Mercury General during the second quarter valued at approximately $53,000. 42.39% of the stock is currently owned by institutional investors and hedge funds.

Mercury General Price Performance

MCY stock opened at $102.26 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.47 and a current ratio of 0.47. The business has a 50-day simple moving average of $105.97 and a two-hundred day simple moving average of $99.49. The company has a market capitalization of $5.66 billion, a P/E ratio of 6.04 and a beta of 0.90. Mercury General Corporation has a 52-week low of $74.29 and a 52-week high of $113.06.

Mercury General (NYSE:MCY) last issued its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $3.52 EPS for the quarter, topping the consensus estimate of $2.53 by $0.99. Mercury General had a return on equity of 31.98% and a net margin of 14.77%.The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.52 billion. Research analysts expect that Mercury General Corporation will post 12.75 EPS for the current fiscal year.

Mercury General Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, September 10th. Mercury General’s dividend payout ratio is presently 7.51%.

Analyst Ratings Changes

MCY has been the topic of a number of research reports. Zacks Research raised Mercury General from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded shares of Mercury General from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Mercury General in a report on Tuesday, September 1st. Two analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Strong Buy” and a consensus price target of $100.00.

About Mercury General

Mercury General Corporation is an insurance holding company that writes personal and commercial property and casualty insurance. Its principal business is automobile insurance, including coverage for private passenger vehicles and commercial vehicles. The company also offers homeowners, renters, condominium, and other property-related insurance products, along with selected mechanical protection and umbrella coverage.

Founded in 1961, Mercury General is based in Los Angeles, California, and operates primarily through subsidiaries that market insurance directly and through independent agents.