Thrivent Financial for Lutherans lifted its holdings in Mercury General Co. (NYSE:MCY) by 6.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,887 shares of the insurance provider’s stock after purchasing 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 reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in MCY. First Hawaiian Bank acquired a new stake in shares of Mercury General during the fourth quarter worth approximately $38,000. Advisor Group Inc. boosted its holdings in shares of Mercury General by 28.3% during the fourth quarter. Advisor Group Inc. now owns 1,594 shares of the insurance provider’s stock worth $83,000 after purchasing an additional 352 shares during the period. Tower Research Capital LLC TRC lifted its stake in Mercury General by 460.9% in the third 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 acquired a new stake in Mercury General in the third quarter valued at approximately $134,000. Finally, Ibex Investors LLC acquired a new stake in Mercury General in the fourth quarter valued at approximately $213,000. 48.70% of the stock is currently owned by institutional investors.
In related news, Director George Gwyer Braunegg bought 500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $50.86 per share, with a total value of $25,430.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 34.20% of the stock is currently owned by insiders.
Shares of Mercury General stock opened at $51.43 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.23. Mercury General Co. has a 1-year low of $43.46 and a 1-year high of $61.83. The firm has a market capitalization of $2.79 billion, a PE ratio of 28.57 and a beta of 0.23.
Mercury General (NYSE:MCY) last issued its quarterly earnings data on Monday, February 11th. The insurance provider reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $850.70 million during the quarter, compared to analyst estimates of $832.44 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Mercury General’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, analysts anticipate that Mercury General Co. will post 3.6 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.627 dividend. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Wednesday, March 13th. Mercury General’s payout ratio is 139.44%.
Mercury General Company Profile
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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