Thrivent Financial for Lutherans increased its stake in shares of Mercury General Co. (NYSE:MCY) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,887 shares of the insurance provider’s stock after buying an additional 401 shares during the period. Thrivent Financial for Lutherans’ holdings in Mercury General were worth $356,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of MCY. First Hawaiian Bank acquired a new position in Mercury General during the 4th quarter worth about $38,000. Advisor Group Inc. increased its stake in shares of Mercury General by 28.3% in the 4th quarter. Advisor Group Inc. now owns 1,594 shares of the insurance provider’s stock valued at $83,000 after acquiring an additional 352 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Mercury General by 460.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,266 shares of the insurance provider’s stock valued at $114,000 after acquiring an additional 1,862 shares during the last quarter. BlueMountain Capital Management LLC bought a new stake in shares of Mercury General in the 3rd quarter valued at about $134,000. Finally, Ibex Investors LLC bought a new stake in shares of Mercury General in the 4th quarter valued at about $213,000. Institutional investors and hedge funds own 48.70% of the company’s stock.
MCY has been the subject of a number of recent analyst reports. Zacks Investment Research raised Mercury General from a “strong sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised Mercury General from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th.
In other Mercury General news, Director George Gwyer Braunegg bought 500 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $50.86 per share, with a total value of $25,430.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 34.20% of the stock is currently owned by corporate insiders.
NYSE MCY opened at $51.43 on Wednesday. Mercury General Co. has a 52-week low of $43.46 and a 52-week high of $61.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.44 and a quick ratio of 0.44. The company has a market cap of $2.79 billion, a P/E ratio of 28.57 and a beta of 0.23.
Mercury General (NYSE:MCY) last posted its earnings results on Monday, February 11th. The insurance provider reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($1.00). Mercury General had a positive return on equity of 5.91% and a negative net margin of 0.17%. The business had revenue of $850.70 million for the quarter, compared to the consensus estimate of $832.44 million. During the same period in the previous year, the company posted $0.15 earnings per share. Mercury General’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, sell-side analysts expect that Mercury General Co. will post 3.6 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.627 per share. The ex-dividend date was Wednesday, March 13th. This represents a $2.51 dividend on an annualized basis and a yield of 4.88%. Mercury General’s payout ratio is 139.44%.
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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, fire, and umbrella insurance. Its automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners' insurance products cover dwelling, liability, personal property, fire, and other hazards.
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