Parkwood LLC reduced its stake in Mercury General Corp. (NYSE:MCY) by 14.7% during the second quarter, Holdings Channel reports. The fund owned 8,757 shares of the company’s stock after selling 1,515 shares during the period. Parkwood LLC’s holdings in Mercury General Corp. were worth $466,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MCY. BlackRock Fund Advisors boosted its position in shares of Mercury General Corp. by 1.0% in the first quarter. BlackRock Fund Advisors now owns 4,564,364 shares of the company’s stock valued at $253,322,000 after buying an additional 44,138 shares in the last quarter. State Street Corp boosted its position in shares of Mercury General Corp. by 7.2% in the first quarter. State Street Corp now owns 2,355,241 shares of the company’s stock valued at $130,714,000 after buying an additional 158,376 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Mercury General Corp. by 151.7% in the first quarter. Renaissance Technologies LLC now owns 230,700 shares of the company’s stock valued at $12,804,000 after buying an additional 139,051 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Mercury General Corp. by 3.5% in the first quarter. BlackRock Group LTD now owns 67,273 shares of the company’s stock valued at $3,733,000 after buying an additional 2,278 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Mercury General Corp. by 4.9% in the first quarter. TIAA CREF Investment Management LLC now owns 55,418 shares of the company’s stock valued at $3,076,000 after buying an additional 2,607 shares in the last quarter. Hedge funds and other institutional investors own 43.57% of the company’s stock.

Shares of Mercury General Corp. (NYSE:MCY) traded down 0.28% during trading on Friday, reaching $53.26. 254,284 shares of the company traded hands. Mercury General Corp. has a 52 week low of $42.97 and a 52 week high of $56.14. The company’s 50-day moving average price is $53.68 and its 200-day moving average price is $53.34. The company has a market capitalization of $2.94 billion, a P/E ratio of 26.51 and a beta of 0.51.

Mercury General Corp. (NYSE:MCY) last released its earnings results on Monday, August 1st. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by $0.24. Mercury General Corp. had a return on equity of 4.81% and a net margin of 3.44%. The firm had revenue of $858 million for the quarter, compared to the consensus estimate of $811.11 million. During the same quarter in the previous year, the business posted $0.64 EPS. Mercury General Corp.’s revenue was up 18.2% on a year-over-year basis. Equities research analysts forecast that Mercury General Corp. will post $1.53 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date is Tuesday, September 13th. Mercury General Corp.’s dividend payout ratio (DPR) is currently 124.00%.

Several brokerages recently commented on MCY. Zacks Investment Research cut shares of Mercury General Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 20th. Compass Point reduced their price objective on shares of Mercury General Corp. from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Mercury General Corp. presently has a consensus rating of “Hold” and a consensus price target of $51.33.

About Mercury General Corp.

Mercury General Corporation is an insurance holding company. The Company is engaged in writing personal automobile insurance through approximately 10 insurance subsidiaries in over 10 states. The Company operates through Property and Casualty business segment. The Company also writes homeowners, commercial automobile, commercial property, mechanical breakdown and umbrella insurance.

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