Capstone Asset Management Co. Purchases 230 Shares of Mercury General Corporation (MCY)
Capstone Asset Management Co. boosted its position in shares of Mercury General Corporation (NYSE:MCY) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,046 shares of the insurance provider’s stock after buying an additional 230 shares during the period. Capstone Asset Management Co.’s holdings in Mercury General Corporation were worth $272,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its stake in Mercury General Corporation by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 30,515 shares of the insurance provider’s stock worth $1,837,000 after buying an additional 1,303 shares in the last quarter. Viking Fund Management LLC increased its stake in Mercury General Corporation by 20.4% in the first quarter. Viking Fund Management LLC now owns 59,000 shares of the insurance provider’s stock worth $3,598,000 after buying an additional 10,000 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Mercury General Corporation 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 in the last quarter. Nisa Investment Advisors LLC increased its stake in Mercury General Corporation by 5.2% in the first quarter. Nisa Investment Advisors LLC now owns 48,640 shares of the insurance provider’s stock worth $2,967,000 after buying an additional 2,390 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Mercury General Corporation by 7.6% in the first quarter. State of Alaska Department of Revenue now owns 3,120 shares of the insurance provider’s stock worth $190,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.
Mercury General Corporation (MCY) traded up 0.41% during midday trading on Wednesday, hitting $59.04. The company’s stock had a trading volume of 27,914 shares. The company’s 50-day moving average is $55.86 and its 200 day moving average is $57.42. Mercury General Corporation has a one year low of $50.32 and a one year high of $64.52. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 41.29 and a beta of 0.50.
Mercury General Corporation (NYSE:MCY) last announced its quarterly earnings data on Monday, July 31st. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.18. Mercury General Corporation had a return on equity of 6.66% and a net margin of 2.45%. The firm had revenue of $852.80 million during the quarter, compared to analysts’ expectations of $815.85 million. During the same period last year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts predict that Mercury General Corporation will post $1.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be paid a $0.6225 dividend. This represents a $2.49 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Wednesday, September 13th. Mercury General Corporation’s payout ratio is 172.92%.
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A number of equities research analysts have issued reports on MCY shares. Zacks Investment Research downgraded Mercury General Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 3rd. BidaskClub downgraded Mercury General Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th.
In other news, CEO Gabriel Tirador sold 2,355 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $59.00, for a total value of $138,945.00. Following the completion of the transaction, the chief executive officer now directly owns 36,239 shares in the company, valued at $2,138,101. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Randall R. Petro sold 1,672 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $55.52, for a total value of $92,829.44. The disclosure for this sale can be found here. Company insiders own 34.30% of the company’s stock.
Mercury General Corporation 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.
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