nVerses Capital LLC Has $227,000 Stock Holdings in Mercury General Co. (NYSE:MCY)

nVerses Capital LLC increased its holdings in shares of Mercury General Co. (NYSE:MCY) by 100.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,600 shares of the insurance provider’s stock after acquiring an additional 1,800 shares during the period. nVerses Capital LLC’s holdings in Mercury General were worth $227,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MCY. CWM LLC boosted its holdings in shares of Mercury General by 962.3% during the 2nd quarter. CWM LLC now owns 563 shares of the insurance provider’s stock worth $30,000 after buying an additional 510 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Mercury General during the 2nd quarter valued at $32,000. Blue Trust Inc. boosted its stake in Mercury General by 8,262.5% during the second quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 661 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in Mercury General in the second quarter worth $64,000. Finally, Quarry LP increased its stake in Mercury General by 112.0% in the second quarter. Quarry LP now owns 1,215 shares of the insurance provider’s stock valued at $65,000 after purchasing an additional 642 shares in the last quarter. Institutional investors and hedge funds own 42.39% of the company’s stock.

Mercury General Price Performance

MCY stock opened at $67.28 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.31 and a quick ratio of 0.31. The company’s 50-day moving average is $62.66 and its 200-day moving average is $57.65. The stock has a market capitalization of $3.73 billion, a PE ratio of 17.30 and a beta of 0.81. Mercury General Co. has a 1 year low of $29.23 and a 1 year high of $69.00.

Mercury General (NYSE:MCY) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.29. Mercury General had a return on equity of 14.91% and a net margin of 6.36%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the business earned ($0.47) EPS. Equities research analysts expect that Mercury General Co. will post 4 EPS for the current fiscal year.

Mercury General Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, September 12th. Mercury General’s payout ratio is currently 32.65%.

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, and umbrella insurance products. Its automobile insurance products include collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners insurance products comprise dwelling, liability, personal property, and other coverages.