PEAK6 LLC Invests $9.36 Million in Mercury General Corporation $MCY

PEAK6 LLC acquired a new stake in Mercury General Corporation (NYSE:MCY) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 87,798 shares of the insurance provider’s stock, valued at approximately $9,361,000.

Several other large investors have also bought and sold shares of the company. Allworth Financial LP acquired a new position in Mercury General during the second quarter worth about $35,000. Hilton Head Capital Partners LLC acquired a new stake in Mercury General in the 4th quarter valued at about $38,000. Mcguire Capital Advisors Inc. acquired a new stake in Mercury General in the 4th quarter valued at about $40,000. IFP Advisors Inc boosted its position 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 valued at $48,000 after purchasing an additional 224 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Mercury General during the 2nd quarter valued at about $78,000. Institutional investors own 42.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Mercury General in a report on Thursday, June 4th. Zacks Research raised Mercury General from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. Finally, Wall Street Zen upgraded Mercury General from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Buy” and a consensus target price of $100.00.

Mercury General Trading Up 0.1%

Mercury General stock opened at $105.77 on Monday. Mercury General Corporation has a 52 week low of $74.29 and a 52 week high of $113.06. 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 firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 6.25 and a beta of 0.90. The company has a 50 day moving average price of $106.58 and a 200 day moving average price of $98.35.

Mercury General (NYSE:MCY) last released its earnings results on Tuesday, August 4th. The insurance provider reported $3.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.99. Mercury General had a return on equity of 31.98% and a net margin of 14.77%.The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.52 billion. Research analysts forecast that Mercury General Corporation will post 12.75 EPS for the current year.

Mercury General Announces Dividend

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

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.