Mercury General Corporation $MCY Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Mercury General Corporation (NYSE:MCY) by 88.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,650 shares of the insurance provider’s stock after buying an additional 14,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Mercury General were worth $3,030,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Root Financial Partners LLC acquired a new position in Mercury General in the 3rd quarter worth about $30,000. Allworth Financial LP acquired a new stake in shares of Mercury General during the second quarter valued at about $35,000. PenderFund Capital Management Ltd. acquired a new stake in shares of Mercury General during the second quarter valued at about $44,000. Caitlin John LLC acquired a new stake in shares of Mercury General during the second quarter valued at about $53,000. Finally, State of Wyoming bought a new stake in shares of Mercury General during the second quarter worth about $78,000. 42.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCY has been the topic of several recent research reports. Zacks Research upgraded shares of Mercury General from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 18th. Weiss Ratings restated a “buy (b)” rating on shares of Mercury General in a research report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Mercury General Stock Performance

MCY stock opened at $103.91 on Tuesday. The stock has a 50-day moving average price of $102.20 and a 200-day moving average price of $98.61. Mercury General Corporation has a 1-year low of $74.29 and a 1-year high of $113.06. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.33. The firm has a market cap of $5.76 billion, a PE ratio of 6.14 and a beta of 0.89.

Mercury General (NYSE:MCY) last posted its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.99. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Mercury General had a return on equity of 31.98% and a net margin of 14.77%. As a group, equities research analysts expect that Mercury General Corporation will post 13.25 earnings per share for the current year.

Mercury General Profile

Mercury General Corporation (NYSE:MCY) is an insurance holding company that writes personal and commercial property and casualty insurance through its subsidiaries. The company is best known for automobile insurance, offering coverage such as liability, collision, comprehensive and uninsured or underinsured motorist protection.

Its product portfolio also includes homeowners, renters, condominium, mobile-home and umbrella insurance, as well as commercial automobile coverage and other related property and casualty products.