Mercury General Co. (NYSE:MCY) Shares Acquired by Donoghue Forlines LLC

Donoghue Forlines LLC lifted its stake in Mercury General Co. (NYSE:MCYGet Rating) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,152 shares of the insurance provider’s stock after purchasing an additional 2,243 shares during the quarter. Donoghue Forlines LLC’s holdings in Mercury General were worth $1,122,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. OLD Mission Capital LLC purchased a new position in shares of Mercury General during the third quarter worth $296,000. Morgan Stanley boosted its holdings in Mercury General by 21.7% in the second quarter. Morgan Stanley now owns 168,181 shares of the insurance provider’s stock valued at $10,924,000 after purchasing an additional 30,021 shares during the period. Raymond James & Associates boosted its holdings in Mercury General by 10.3% in the third quarter. Raymond James & Associates now owns 10,220 shares of the insurance provider’s stock valued at $569,000 after purchasing an additional 953 shares during the period. Principal Financial Group Inc. boosted its holdings in Mercury General by 1.1% in the third quarter. Principal Financial Group Inc. now owns 200,669 shares of the insurance provider’s stock valued at $11,171,000 after purchasing an additional 2,207 shares during the period. Finally, Barclays PLC boosted its holdings in Mercury General by 96.1% in the third quarter. Barclays PLC now owns 68,485 shares of the insurance provider’s stock valued at $3,813,000 after purchasing an additional 33,566 shares during the period. Institutional investors own 40.01% of the company’s stock.

A number of research firms have weighed in on MCY. TheStreet cut Mercury General from a “b” rating to a “c+” rating in a research note on Friday, May 6th. StockNews.com began coverage on Mercury General in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research cut Mercury General from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 12th.

Shares of MCY traded up $0.13 during midday trading on Wednesday, reaching $48.76. 3,592 shares of the stock were exchanged, compared to its average volume of 238,924. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.29 and a quick ratio of 0.29. Mercury General Co. has a twelve month low of $47.27 and a twelve month high of $66.94. The business’s 50-day moving average price is $52.75 and its 200 day moving average price is $53.08. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -47.79 and a beta of 0.42.

Mercury General (NYSE:MCYGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The insurance provider reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($1.42). Mercury General had a positive return on equity of 2.05% and a negative net margin of 1.47%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the business earned $1.34 EPS. As a group, equities research analysts expect that Mercury General Co. will post -0.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 16th will be issued a dividend of $0.635 per share. This represents a $2.54 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date is Wednesday, June 15th. Mercury General’s dividend payout ratio is currently -249.02%.

About Mercury General (Get Rating)

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, fire, and other hazards.

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Institutional Ownership by Quarter for Mercury General (NYSE:MCY)

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