Dynamic Technology Lab Private Ltd bought a new position in shares of Mercury General Co. (NYSE:MCY – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 11,763 shares of the insurance provider’s stock, valued at approximately $439,000.

A number of other institutional investors have also made changes to their positions in the business. Brandywine Global Investment Management LLC bought a new position in Mercury General during the third quarter worth $4,234,000. Dimensional Fund Advisors LP grew its stake in Mercury General by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,893,881 shares of the insurance provider’s stock valued at $70,662,000 after buying an additional 79,659 shares during the last quarter. GSA Capital Partners LLP raised its holdings in Mercury General by 255.4% in the 3rd quarter. GSA Capital Partners LLP now owns 96,004 shares of the insurance provider’s stock valued at $2,691,000 after acquiring an additional 68,991 shares during the period. Speece Thorson Capital Group Inc. lifted its position in Mercury General by 21.0% during the third quarter. Speece Thorson Capital Group Inc. now owns 383,735 shares of the insurance provider’s stock worth $10,756,000 after acquiring an additional 66,574 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Mercury General by 219.0% during the third quarter. Assenagon Asset Management S.A. now owns 89,746 shares of the insurance provider’s stock worth $2,516,000 after acquiring an additional 61,614 shares during the period. 42.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded Mercury General from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th.

View Our Latest Stock Report on MCY

Mercury General Trading Up 0.8 %

Shares of Mercury General stock opened at $57.11 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a 50-day moving average of $53.58 and a 200-day moving average of $45.32. Mercury General Co. has a 52-week low of $27.27 and a 52-week high of $59.89. The stock has a market cap of $3.16 billion, a PE ratio of 14.68 and a beta of 0.77.

Mercury General (NYSE:MCY – Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.63. Mercury General had a net margin of 4.48% and a return on equity of 9.85%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. As a group, sell-side analysts forecast that Mercury General Co. will post 2.9 EPS for the current year.

Mercury General Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, June 13th. This is a positive change from Mercury General’s previous quarterly dividend of $0.32. Mercury General’s dividend payout ratio (DPR) is 32.65%.

Mercury General Company Profile

(Free Report)

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.

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