Mercury General Corporation (MCY) : Frontier Investment Mgmt Co scooped up 4,635 additional shares in Mercury General Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 139,635 shares of Mercury General Corporation which is valued at $7,351,783.Mercury General Corporation makes up approximately 0.91% of Frontier Investment Mgmt Co’s portfolio.
Other Hedge Funds, Including , Analytic Investors reduced its stake in MCY by selling 26,366 shares or 32.67% in the most recent quarter. The Hedge Fund company now holds 54,334 shares of MCY which is valued at $2,860,685. Mercury General Corporation makes up approx 0.03% of Analytic Investors’s portfolio. Credit Agricole S A added MCY to its portfolio by purchasing 7,827 company shares during the most recent quarter which is valued at $412,092.Ls Investment Advisors boosted its stake in MCY in the latest quarter, The investment management firm added 931 additional shares and now holds a total of 2,198 shares of Mercury General Corporation which is valued at $121,835. Mercury General Corporation makes up approx 0.01% of Ls Investment Advisors’s portfolio.
Mercury General Corporation opened for trading at $53.32 and hit $53.76 on the upside on Monday, eventually ending the session at $53.66, with a gain of 1.00% or 0.53 points. The heightened volatility saw the trading volume jump to 80,799 shares. Company has a market cap of $2,965 M.
On the company’s financial health, Mercury General Corporation reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.59. The company had revenue of $858.00 million for the quarter, compared to analysts expectations of $779.60 million. The company’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.
Investors should note that on Aug 1, 2016, Mercury General Corporation announced a cash dividend of $0.6200. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 29, 2016.
Many Wall Street Analysts have commented on Mercury General Corporation. Shares were Reiterated by Compass Point on Aug 2, 2016 to “Neutral” and Lowered the Price Target to $ 51 from a previous price target of $55 .
Mercury General Corporation is an insurance holding company. Through its subsidiaries the Company operates as a personal automobile insurer selling policies through a network of independent agents 100% owned insurance agents and direct channels in around 13 states. It also offers homeowners commercial automobile commercial property mechanical breakdown fire and umbrella insurance. It provides various types of automobile coverage such as collision property damage bodily injury comprehensive personal injury protection underinsured and uninsured motorist and other hazards. It offers a range of homeowner’s coverage including dwelling liability personal property fire and other hazards. It has operations in Arizona California Georgia Illinois Michigan Nevada and New Jersey among others. Its subsidiaries include Mercury Casualty Company Mercury Insurance Company California Automobile Insurance Company and Mercury Insurance Company of Georgia among others.