Public Sector Pension Investment Board Acquires 13,208 Shares of Mercury General Corporation $MCY

Public Sector Pension Investment Board raised its holdings in shares of Mercury General Corporation (NYSE:MCY) by 14.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,730 shares of the insurance provider’s stock after purchasing an additional 13,208 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.19% of Mercury General worth $8,794,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. LSV Asset Management bought a new position in shares of Mercury General in the third quarter valued at about $4,722,000. Versor Investments LP acquired a new position in Mercury General in the 3rd quarter valued at about $1,051,000. Alps Advisors Inc. bought a new position in Mercury General in the 3rd quarter valued at about $487,000. Savant Capital LLC lifted its position in Mercury General by 1.8% during the third quarter. Savant Capital LLC now owns 9,181 shares of the insurance provider’s stock worth $778,000 after acquiring an additional 166 shares during the last quarter. Finally, IMC Chicago LLC lifted its position in Mercury General by 24.0% during the third quarter. IMC Chicago LLC now owns 16,665 shares of the insurance provider’s stock worth $1,413,000 after acquiring an additional 3,230 shares during the last quarter. 42.39% of the stock is currently owned by institutional investors and hedge funds.

Mercury General Stock Down 1.5%

NYSE MCY opened at $93.34 on Tuesday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 11.77 and a beta of 0.94. The company has a 50 day moving average of $91.33 and a 200-day moving average of $84.68. Mercury General Corporation has a 1-year low of $47.06 and a 1-year high of $96.50.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MCY shares. Zacks Research lowered Mercury General from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Mercury General in a 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, Mercury General currently has a consensus rating of “Buy” and a consensus target price of $100.00.

Mercury General Company 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.