Lighthouse Investment Partners LLC buys 86,178 shares of Mercury General Co. (NYSE:MCY)

Lighthouse Investment Partners LLC raised its position in Mercury General Co. (NYSE:MCY – Free Report) by 783.7% during the 2nd quarter, Holdings Channel reports. The firm owned 97,175 shares of the insurance provider’s stock after buying an additional 86,178 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Mercury General were worth $5,164,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of Mercury General by 7,606.6% in the first quarter. Russell Investments Group Ltd. now owns 53,330 shares of the insurance provider’s stock worth $2,752,000 after buying an additional 52,638 shares during the last quarter. Vanguard Group Inc. raised its holdings in Mercury General by 1.5% in the first quarter. Vanguard Group Inc. now owns 3,256,765 shares of the insurance provider’s stock worth $168,049,000 after purchasing an additional 48,508 shares during the last quarter. Caxton Associates LP bought a new stake in Mercury General in the 1st quarter worth approximately $486,000. Sei Investments Co. raised its holdings in Mercury General by 132.7% in the first quarter. Sei Investments Co. now owns 17,561 shares of the insurance provider’s stock worth $906,000 after purchasing an additional 10,014 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Mercury General by 20.5% during the second quarter. American Century Companies Inc. now owns 52,688 shares of the insurance provider’s stock worth $2,800,000 after purchasing an additional 8,976 shares during the last quarter. Institutional investors own 42.39% of the company’s shares.

Mercury’s overall stock fell 1.1%

Shares of NYSE:MCY opened at $63.21 on Friday. Mercury General Co. has a 12-month low of $27.30 and a 12-month high of $67.11. The company’s 50-day moving average price is $60.90, and its two-hundred-day moving average price is $56.00. The company has a quick ratio of 0.31, a current ratio of 0.31, and a debt-to-equity ratio of 0.35. The firm has a market cap of $3.50 billion, a P/E ratio of 16.25 and a beta of 0.81.

Mercury General (NYSE:MCY – Get Your Free Report ) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.29. Mercury General had a net margin of 6.36% and a return on equity of 14.91%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.33 billion. In the same quarter last year, the firm earned ($0.47) EPS. As a group, research analysts forecast that Mercury General Co. will show 4 EPS for the current fiscal year.

Announcement of General Dividends Mercury

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were given a dividend of $0.3175 per share. The ex-dividend date was Thursday, September 12. This represents a dividend of $1.27 on an annualized basis and a yield of 2.01%. Mercury General’s payout ratio is currently 32.65%.

About General Mercury

(Free Report)

Mercury General Corporation, together with its subsidiaries, engages in personal auto insurance in the United States. The company also writes homeowners, commercial auto, commercial property, mechanical protection and umbrella insurance products. Its auto insurance products include collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist and other perils; and homeowners insurance products include home, liability, personal property and other coverages.

Further reading

Want to see what other hedge funds MCY owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Mercury General Co. (NYSE:MCY – Free Report).

Get news and reviews for Mercury General Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Mercury General and related companies with MarketBeat.com’s FREE daily email newsletter.