Speece Thorson Capital Group Inc buys $5,609,351 stake in Mercury General Corporation (MCY)

Mercury General Corporation (MCY) : Speece Thorson Capital Group Inc scooped up 1,495 additional shares in Mercury General Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 100,526 shares of Mercury General Corporation which is valued at $5,609,351.Mercury General Corporation makes up approximately 1.20% of Speece Thorson Capital Group Inc’s portfolio.

Other Hedge Funds, Including , Retirement Systems Of Alabama boosted its stake in MCY in the latest quarter, The investment management firm added 93 additional shares and now holds a total of 47,041 shares of Mercury General Corporation which is valued at $2,624,888. Mercury General Corporation makes up approx 0.01% of Retirement Systems Of Alabama’s portfolio.First Quadrant L Pca reduced its stake in MCY by selling 10 shares or 0.59% in the most recent quarter. The Hedge Fund company now holds 1,689 shares of MCY which is valued at $92,135.Creative Planning boosted its stake in MCY in the latest quarter, The investment management firm added 184 additional shares and now holds a total of 700 shares of Mercury General Corporation which is valued at $38,598.

Mercury General Corporation closed down -0.65 points or -1.16% at $55.37 with 7,02,044 shares getting traded on Friday. Post opening the session at $56.14, the shares hit an intraday low of $55.22 and an intraday high of $56.14 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

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 .Company shares were Reiterated by Compass Point on May 3, 2016 to “Neutral”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .

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.

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