5,689 Shares in Mercury General Corporation $MCY Purchased by Vise Technologies Inc.

Vise Technologies Inc. acquired a new position in Mercury General Corporation (NYSE:MCY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,689 shares of the insurance provider’s stock, valued at approximately $607,000.

Other institutional investors have also recently bought and sold shares of the company. Hilton Head Capital Partners LLC bought a new stake in shares of Mercury General in the fourth quarter valued at approximately $38,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Mercury General during the 4th quarter worth $40,000. IFP Advisors Inc grew its holdings 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 purchasing an additional 224 shares in the last quarter. State of Wyoming bought a new position in shares of Mercury General in the second quarter worth $78,000. Finally, Torren Management LLC bought a new position in shares of Mercury General in the fourth quarter worth $84,000. Institutional investors own 42.39% of the company’s stock.

Mercury General Trading Up 0.5%

NYSE MCY opened at $106.22 on Tuesday. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 6.28 and a beta of 0.90. Mercury General Corporation has a twelve month low of $74.29 and a twelve month high of $113.06. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average is $106.68 and its 200 day moving average is $98.46.

Mercury General (NYSE:MCY) last posted its earnings results on Tuesday, August 4th. The insurance provider reported $3.52 EPS for the quarter, beating 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. As a group, sell-side analysts expect that Mercury General Corporation will post 12.75 EPS for the current fiscal year.

Mercury General Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MCY. Wall Street Zen raised shares of Mercury General from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Zacks Research raised shares of Mercury General from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Mercury General in a research report on Thursday, June 4th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Mercury General presently has an average rating of “Strong Buy” and an average 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.