Mercury General Co. (NYSE:MCY) Shares Sold by Pacer Advisors Inc.

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Pacer Advisors Inc. reduced its stake in Mercury General Co. (NYSE:MCYGet Rating) by 53.3% in the first quarter, HoldingsChannel.com reports. The fund owned 1,292 shares of the insurance provider’s stock after selling 1,477 shares during the quarter. Pacer Advisors Inc.’s holdings in Mercury General were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Voya Investment Management LLC lifted its holdings in shares of Mercury General by 33.6% in the 3rd quarter. Voya Investment Management LLC now owns 11,973 shares of the insurance provider’s stock worth $667,000 after purchasing an additional 3,013 shares during the last quarter. California State Teachers Retirement System increased its position in Mercury General by 0.7% in the third quarter. California State Teachers Retirement System now owns 45,627 shares of the insurance provider’s stock worth $2,540,000 after buying an additional 334 shares during the period. Cubist Systematic Strategies LLC lifted its stake in Mercury General by 174.5% in the third quarter. Cubist Systematic Strategies LLC now owns 16,204 shares of the insurance provider’s stock valued at $902,000 after buying an additional 10,300 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Mercury General by 18.2% during the third quarter. Squarepoint Ops LLC now owns 27,073 shares of the insurance provider’s stock valued at $1,507,000 after acquiring an additional 4,166 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Mercury General by 117.7% during the third quarter. Janus Henderson Group PLC now owns 24,575 shares of the insurance provider’s stock valued at $1,368,000 after acquiring an additional 13,285 shares during the period. 40.01% of the stock is owned by institutional investors.

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NYSE:MCY opened at $44.77 on Tuesday. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -43.89 and a beta of 0.42. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. Mercury General Co. has a 1 year low of $43.33 and a 1 year high of $66.07. The business has a fifty day moving average of $48.54 and a 200-day moving average of $51.87.

Mercury General (NYSE:MCYGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The insurance provider reported ($0.77) earnings per share for the quarter, missing the consensus estimate of $0.65 by ($1.42). The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. Mercury General had a positive return on equity of 2.05% and a negative net margin of 1.47%. During the same period in the previous year, the company earned $1.34 EPS. On average, equities research analysts predict that Mercury General Co. will post -0.7 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be paid a $0.635 dividend. This represents a $2.54 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date is Wednesday, June 15th. Mercury General’s dividend payout ratio is currently -249.02%.

A number of research analysts have issued reports on MCY shares. TheStreet lowered shares of Mercury General from a “b” rating to a “c+” rating in a research note on Friday, May 6th. StockNews.com started coverage on Mercury General in a research report on Thursday, March 31st. They set a “hold” rating for the company.

About Mercury General (Get Rating)

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.

See Also

Want to see what other hedge funds are holding MCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercury General Co. (NYSE:MCYGet Rating).

Institutional Ownership by Quarter for Mercury General (NYSE:MCY)



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