Strs Ohio reduced its stake in shares of Mercury General Co. (NYSE:MCY – Get Rating) by 6.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,169 shares of the insurance provider’s stock after selling 2,495 shares during the period. Strs Ohio owned 0.07% of Mercury General worth $1,989,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of MCY. Moors & Cabot Inc. bought a new stake in Mercury General in the third quarter worth $26,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Mercury General in the fourth quarter worth $45,000. IFP Advisors Inc boosted its holdings in Mercury General by 17.2% in the fourth quarter. IFP Advisors Inc now owns 1,388 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 204 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Mercury General by 36.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,978 shares of the insurance provider’s stock worth $219,000 after purchasing an additional 1,073 shares in the last quarter. Finally, Inspire Investing LLC bought a new stake in Mercury General in the first quarter worth $235,000. Hedge funds and other institutional investors own 40.01% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. StockNews.com began coverage on shares of Mercury General in a report on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet lowered shares of Mercury General from a “b” rating to a “c+” rating in a research report on Friday, May 6th.
Mercury General stock opened at $45.36 on Monday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 58.91 and a beta of 0.45. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.29 and a quick ratio of 0.29. Mercury General Co. has a fifty-two week low of $42.73 and a fifty-two week high of $64.59. The firm has a fifty day moving average price of $47.20 and a two-hundred day moving average price of $51.41.
Mercury General (NYSE:MCY – Get Rating) last released its earnings results on Tuesday, May 3rd. The insurance provider reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($1.42). The firm had revenue of $1 billion for 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 prior year, the firm earned $1.34 EPS. As a group, sell-side analysts expect that Mercury General Co. will post -0.7 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th were given a dividend of $0.635 per share. This represents a $2.54 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend was Wednesday, June 15th. Mercury General’s dividend payout ratio is currently -249.02%.
Mercury General Company Profile (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.
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