Los Angeles Capital Management LLC Has $1.34 Million Stock Position in Mercury General Co. (NYSE:MCY)

Los Angeles Capital Management LLC grew its holdings in Mercury General Co. (NYSE:MCY) by 67.8% during the third quarter, Holdings Channel.com reports. The firm owned 21,253 shares of the insurance provider’s stock after acquiring an additional 8,590 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Mercury General were worth $1,339,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MCY. CWM LLC raised its holdings in Mercury General by 962.3% during the second quarter. CWM LLC now owns 563 shares of the insurance provider’s stock worth $30,000 after acquiring 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 worth approximately $32,000. Allworth Financial LP raised its stake in shares of Mercury General by 1,190.5% during the 3rd quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Mercury General by 8,262.5% in the 2nd quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock valued at $35,000 after buying an additional 661 shares during the last quarter. Finally, FSC Wealth Advisors LLC bought a new position in shares of Mercury General in the second quarter valued at $64,000. Institutional investors own 42.39% of the company’s stock.

Mercury General Stock Performance

NYSE MCY opened at $73.37 on Friday. The firm has a market capitalization of $4.06 billion, a P/E ratio of 7.27 and a beta of 0.81. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average price is $65.43 and its two-hundred day moving average price is $59.92. Mercury General Co. has a 1 year low of $35.62 and a 1 year high of $76.47.

Mercury General (NYSE:MCY) last issued its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $1.39. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.37 billion. Mercury General had a net margin of 10.18% and a return on equity of 18.04%. During the same period last year, the business posted $1.14 EPS. As a group, research analysts anticipate that Mercury General Co. will post 6.35 EPS for the current year.

Mercury General Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Thursday, December 12th will be paid a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, December 12th. Mercury General’s dividend payout ratio (DPR) is presently 12.59%.

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.