Mercury General Corporation (MCY) Shares Sold by Capital International Investors
Capital International Investors decreased its stake in shares of Mercury General Corporation (NYSE:MCY) by 25.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,422,507 shares of the insurance provider’s stock after selling 475,703 shares during the period. Capital International Investors owned approximately 2.57% of Mercury General worth $80,642,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in Mercury General by 17.2% in the 2nd quarter. State Street Corp now owns 2,877,538 shares of the insurance provider’s stock valued at $155,388,000 after buying an additional 423,115 shares during the period. Citadel Advisors LLC increased its position in shares of Mercury General by 564.8% in the second quarter. Citadel Advisors LLC now owns 158,214 shares of the insurance provider’s stock worth $8,544,000 after purchasing an additional 134,414 shares during the period. First Trust Advisors LP increased its position in shares of Mercury General by 17.0% in the second quarter. First Trust Advisors LP now owns 363,717 shares of the insurance provider’s stock worth $19,641,000 after purchasing an additional 52,948 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Mercury General by 9.1% in the second quarter. Goldman Sachs Group Inc. now owns 598,608 shares of the insurance provider’s stock worth $32,324,000 after purchasing an additional 49,817 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Mercury General by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,272,652 shares of the insurance provider’s stock worth $68,725,000 after purchasing an additional 35,166 shares during the period. 46.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mercury General Corporation (MCY) traded down $0.25 during mid-day trading on Tuesday, hitting $53.33. The stock had a trading volume of 241,200 shares, compared to its average volume of 173,303. Mercury General Corporation has a 12-month low of $52.52 and a 12-month high of $64.52. The firm has a market capitalization of $2,964.69, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.51. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.21.
Mercury General (NYSE:MCY) last posted its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.18. The company had revenue of $827.42 million for the quarter, compared to analyst estimates of $835.00 million. Mercury General had a return on equity of 6.47% and a net margin of 3.00%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 earnings per share. analysts forecast that Mercury General Corporation will post 1.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 14th will be paid a $0.625 dividend. This is a positive change from Mercury General’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Wednesday, December 13th. Mercury General’s payout ratio is currently 139.11%.
A number of analysts have recently commented on MCY shares. TheStreet lowered Mercury General from a “b” rating to a “c+” rating in a research note on Monday, October 30th. Zacks Investment Research lowered Mercury General from a “buy” rating to a “sell” rating in a research note on Wednesday, October 4th.
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About Mercury General
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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