Speece Thorson Capital Group Inc. Has $6.21 Million Position in Mercury General Co. (MCY)

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Speece Thorson Capital Group Inc. reduced its holdings in Mercury General Co. (NYSE:MCY) by 31.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,829 shares of the insurance provider’s stock after selling 56,686 shares during the quarter. Speece Thorson Capital Group Inc. owned 0.22% of Mercury General worth $6,211,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MCY. Gifford Fong Associates acquired a new stake in Mercury General in the 2nd quarter valued at approximately $137,000. Flagship Harbor Advisors LLC acquired a new stake in Mercury General in the 2nd quarter valued at approximately $181,000. Commonwealth Equity Services LLC acquired a new stake in Mercury General in the 1st quarter valued at approximately $205,000. Verition Fund Management LLC acquired a new stake in Mercury General in the 2nd quarter valued at approximately $212,000. Finally, Acadian Asset Management LLC acquired a new stake in Mercury General in the 3rd quarter valued at approximately $225,000. Hedge funds and other institutional investors own 47.86% of the company’s stock.

Shares of NYSE MCY opened at $59.31 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 0.71 and a beta of 0.52. Mercury General Co. has a 1 year low of $41.40 and a 1 year high of $61.83.

Mercury General (NYSE:MCY) last issued its quarterly earnings results on Monday, October 29th. The insurance provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.38. The firm had revenue of $905.34 million during the quarter, compared to analyst estimates of $877.06 million. Mercury General had a return on equity of 7.13% and a net margin of 2.80%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. Equities research analysts forecast that Mercury General Co. will post 2.47 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Thursday, December 13th will be paid a dividend of $0.6275 per share. This is a positive change from Mercury General’s previous quarterly dividend of $0.63. This represents a $2.51 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Wednesday, December 12th. Mercury General’s dividend payout ratio (DPR) is presently 152.44%.

Several analysts recently commented on the company. Zacks Investment Research upgraded Mercury General from a “hold” rating to a “strong-buy” rating and set a $70.00 target price on the stock in a research report on Thursday. Keefe, Bruyette & Woods set a $69.00 target price on Mercury General and gave the company a “buy” rating in a research report on Monday. TheStreet upgraded Mercury General from a “c+” rating to a “b-” rating in a research report on Friday, August 10th. Finally, ValuEngine upgraded Mercury General from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st.

Mercury General Profile

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, fire, and umbrella insurance. Its automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners insurance products cover 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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