Mercury General Co. (MCY) Holding Boosted by State Board of Administration of Florida Retirement System

Mercury General Co. (MCY) Holding Boosted by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System boosted its position in Mercury General Co. (NYSE:MCY) by 0.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,369 shares of the insurance provider’s stock after buying an additional 126 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Mercury General were worth $2,462,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in MCY. Ladenburg Thalmann Financial Services Inc. raised its stake in Mercury General by 0.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,335 shares of the insurance provider’s stock worth $261,000 after buying an additional 25 shares during the last quarter. State Treasurer State of Michigan raised its stake in Mercury General by 0.7% in the first quarter. State Treasurer State of Michigan now owns 14,800 shares of the insurance provider’s stock worth $903,000 after buying an additional 100 shares during the last quarter. Tyers Asset Management LLC raised its stake in Mercury General by 6.3% in the first quarter. Tyers Asset Management LLC now owns 1,904 shares of the insurance provider’s stock worth $116,000 after buying an additional 112 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Mercury General by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 9,200 shares of the insurance provider’s stock worth $561,000 after buying an additional 200 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Mercury General by 1.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 12,595 shares of the insurance provider’s stock worth $768,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 43.83% of the company’s stock.

Mercury General Co. (NYSE:MCY) traded up 1.32% during midday trading on Wednesday, reaching $56.00. The company had a trading volume of 127,567 shares. The company’s 50 day moving average is $57.30 and its 200-day moving average is $58.98. The company has a market capitalization of $3.10 billion, a P/E ratio of 40.35 and a beta of 0.49. Mercury General Co. has a 52-week low of $49.69 and a 52-week high of $64.52.

Mercury General (NYSE:MCY) last posted its quarterly earnings results on Monday, May 1st. The insurance provider reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by $0.35. The business had revenue of $811.60 million during the quarter, compared to analyst estimates of $829.68 million. Mercury General had a return on equity of 5.30% and a net margin of 2.26%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 EPS. Equities analysts expect that Mercury General Co. will post $1.98 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th will be given a $0.6225 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $2.49 annualized dividend and a yield of 4.45%. Mercury General’s dividend payout ratio (DPR) is 188.64%.

Separately, Zacks Investment Research lowered Mercury General from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 9th.

In other Mercury General news, VP Allan Lubitz sold 2,650 shares of Mercury General stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $60.03, for a total value of $159,079.50. Following the transaction, the vice president now owns 14,540 shares in the company, valued at $872,836.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 34.40% of the company’s stock.

Mercury General Company Profile

Mercury General Corporation is an insurance holding company. As of December 31, 2016, the Company and its subsidiaries were engaged in writing personal automobile insurance through 14 insurance subsidiaries in 11 states, principally California. Its segments include Property and Casualty Lines, and Other Lines.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MCY”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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