LSV Asset Management Purchases Shares of 55,700 Mercury General Corporation $MCY

LSV Asset Management purchased a new stake in Mercury General Corporation (NYSE:MCY) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 55,700 shares of the insurance provider’s stock, valued at approximately $4,722,000. LSV Asset Management owned 0.10% of Mercury General as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCY. Inspire Investing LLC boosted its position in Mercury General by 223.6% during the 3rd quarter. Inspire Investing LLC now owns 18,820 shares of the insurance provider’s stock worth $1,596,000 after acquiring an additional 13,004 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Mercury General by 16.1% in the second quarter. American Century Companies Inc. now owns 470,905 shares of the insurance provider’s stock worth $31,711,000 after purchasing an additional 65,441 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Mercury General during the third quarter worth $3,141,000. Prudential Financial Inc. grew its position in Mercury General by 27.9% in the second quarter. Prudential Financial Inc. now owns 63,899 shares of the insurance provider’s stock valued at $4,303,000 after purchasing an additional 13,937 shares in the last quarter. Finally, Blair William & Co. IL acquired a new stake in Mercury General in the 2nd quarter valued at $219,000. 42.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Zacks Research downgraded shares of Mercury General from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Mercury General in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Mercury General presently has a consensus rating of “Buy” and a consensus target price of $100.00.

Mercury General Trading Down 1.5%

Mercury General stock opened at $93.34 on Monday. The stock has a 50-day simple moving average of $91.25 and a 200 day simple moving average of $84.51. The stock has a market capitalization of $5.17 billion, a P/E ratio of 11.77 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.45 and a current ratio of 0.45. Mercury General Corporation has a 52 week low of $47.06 and a 52 week high of $96.50.

About Mercury General

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.