Semper Augustus Investments Group LLC Boosts Position in Mercury General Co. (NYSE:MCY)

Semper Augustus Investments Group LLC lifted its position in Mercury General Co. (NYSE:MCY) by 91.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,259,725 shares of the insurance provider’s stock after acquiring an additional 603,240 shares during the quarter. Mercury General accounts for 9.0% of Semper Augustus Investments Group LLC’s portfolio, making the stock its 2nd largest position. Semper Augustus Investments Group LLC owned about 2.28% of Mercury General worth $38,132,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Captrust Financial Advisors boosted its position in Mercury General by 23.8% in the 1st quarter. Captrust Financial Advisors now owns 1,244 shares of the insurance provider’s stock valued at $68,000 after buying an additional 239 shares during the period. Panagora Asset Management Inc. increased its holdings in Mercury General by 3.4% during the 1st quarter. Panagora Asset Management Inc. now owns 7,808 shares of the insurance provider’s stock worth $429,000 after purchasing an additional 254 shares during the period. Commonwealth Equity Services LLC raised its position in Mercury General by 1.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 17,314 shares of the insurance provider’s stock valued at $492,000 after purchasing an additional 294 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Mercury General by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,762 shares of the insurance provider’s stock worth $356,000 after buying an additional 349 shares during the period. Finally, Quarry LP grew its position in shares of Mercury General by 40.0% during the 1st quarter. Quarry LP now owns 1,263 shares of the insurance provider’s stock worth $40,000 after buying an additional 361 shares in the last quarter. 42.39% of the stock is owned by hedge funds and other institutional investors.

Mercury General Stock Up 0.7 %

NYSE MCY traded up $0.24 during midday trading on Tuesday, hitting $36.56. 24,442 shares of the company traded hands, compared to its average volume of 214,519. Mercury General Co. has a 52 week low of $26.15 and a 52 week high of $39.47. The company’s 50-day simple moving average is $31.16 and its 200-day simple moving average is $30.38. The company has a market cap of $2.02 billion, a PE ratio of -19.74 and a beta of 0.65. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30.

Mercury General (NYSE:MCY) last announced its earnings results on Tuesday, October 31st. The insurance provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $1.15. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.11 billion. Mercury General had a negative net margin of 2.31% and a negative return on equity of 8.85%. As a group, equities research analysts forecast that Mercury General Co. will post -0.8 earnings per share for the current year.

Mercury General Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be given a dividend of $0.3175 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This is an increase from Mercury General’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a dividend yield of 3.47%. Mercury General’s dividend payout ratio is presently -69.02%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Mercury General from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th.

About Mercury General

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, fire, and other hazards.