Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,073 Shares of Mercury General Co. (NYSE:MCY)

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Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Mercury General Co. (NYSE:MCYGet Rating) by 36.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,978 shares of the insurance provider’s stock after purchasing an additional 1,073 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mercury General were worth $219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCY. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Mercury General during the 4th quarter valued at approximately $45,000. Lindenwold Advisors bought a new stake in Mercury General in the 4th quarter worth approximately $258,000. Bridgewater Associates LP bought a new stake in Mercury General in the 4th quarter worth approximately $268,000. Teacher Retirement System of Texas increased its stake in Mercury General by 20.2% in the 4th quarter. Teacher Retirement System of Texas now owns 5,362 shares of the insurance provider’s stock worth $285,000 after acquiring an additional 901 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Mercury General in the 4th quarter worth approximately $301,000. Institutional investors own 40.01% of the company’s stock.

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Wall Street Analysts Forecast Growth

MCY has been the topic of a number of research reports. StockNews.com initiated coverage on Mercury General in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. TheStreet downgraded Mercury General from a “b” rating to a “c+” rating in a research note on Friday, May 6th.

Mercury General Price Performance

Shares of Mercury General stock opened at $42.64 on Friday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -41.80 and a beta of 0.45. Mercury General Co. has a one year low of $42.73 and a one year high of $63.06. The stock has a 50 day moving average price of $46.47 and a 200-day moving average price of $51.16. 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 (NYSE:MCYGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The insurance provider reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($1.42). Mercury General had a negative net margin of 1.47% and a positive return on equity of 2.05%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm earned $1.34 EPS. Equities analysts expect that Mercury General Co. will post -0.7 EPS for the current year.

Mercury General Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th were issued a $0.635 dividend. This represents a $2.54 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date of this dividend was Wednesday, June 15th. Mercury General’s dividend payout ratio is presently -249.02%.

Mercury General Profile

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



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