Los Angeles Capital Management LLC Acquires 8,590 Shares of Mercury General Co. (NYSE:MCY)

Los Angeles Capital Management LLC raised its holdings in shares of Mercury General Co. (NYSE:MCY) by 67.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 21,253 shares of the insurance provider’s stock after acquiring an additional 8,590 shares during the period. Los Angeles Capital Management LLC’s holdings in Mercury General were worth $1,339,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Allworth Financial LP increased its holdings in Mercury General by 1,190.5% in the third quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. CWM LLC increased its stake in shares of Mercury General by 962.3% in the 2nd quarter. CWM LLC now owns 563 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 510 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Mercury General in the 2nd quarter valued at approximately $32,000. Blue Trust Inc. boosted its stake in Mercury General by 8,262.5% during the 2nd quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 661 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in Mercury General during the second quarter valued at approximately $64,000. Institutional investors and hedge funds own 42.39% of the company’s stock.

Mercury General Trading Down 1.4 %

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

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

Mercury General Cuts Dividend

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

About Mercury General

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.