Exchange Traded Concepts LLC Grows Position in Mercury General Co. (NYSE:MCY)

Exchange Traded Concepts LLC grew its stake in shares of Mercury General Co. (NYSE:MCY) by 99.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,187 shares of the insurance provider’s stock after purchasing an additional 13,589 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Mercury General were worth $1,712,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. CWM LLC lifted its stake in Mercury General by 962.3% in the second quarter. CWM LLC now owns 563 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 510 shares during the period. National Bank of Canada FI purchased a new stake in Mercury General in the second quarter worth $32,000. Blue Trust Inc. lifted its stake in Mercury General by 8,262.5% in the second 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 period. FSC Wealth Advisors LLC purchased a new stake in Mercury General in the second quarter worth $64,000. Finally, Quarry LP lifted its stake in Mercury General by 112.0% in the second quarter. Quarry LP now owns 1,215 shares of the insurance provider’s stock worth $65,000 after acquiring an additional 642 shares during the period. Hedge funds and other institutional investors own 42.39% of the company’s stock.

Mercury General Stock Performance

Shares of MCY stock opened at $66.14 on Wednesday. The stock has a fifty day moving average of $62.27 and a 200 day moving average of $57.40. Mercury General Co. has a 52 week low of $29.23 and a 52 week high of $67.18. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 17.00 and a beta of 0.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.35.

Mercury General (NYSE:MCY) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.29. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. Mercury General had a return on equity of 14.91% and a net margin of 6.36%. During the same quarter last year, the firm posted ($0.47) earnings per share. As a group, research analysts expect that Mercury General Co. will post 4 earnings per share for the current year.

Mercury General Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.27 dividend on an annualized basis and a yield of 1.92%. Mercury General’s dividend payout ratio (DPR) is 32.65%.

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, 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.