Louisiana State Employees Retirement System raised its stake in shares of Mercury General Corporation (NYSE:MCY) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 9,500 shares of the insurance provider’s stock after buying an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Mercury General Corporation were worth $513,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tyers Asset Management LLC increased its position in shares of Mercury General Corporation by 6.3% in the first quarter. Tyers Asset Management LLC now owns 1,904 shares of the insurance provider’s stock valued at $116,000 after buying an additional 112 shares during the last quarter. Flinton Capital Management LLC increased its position in shares of Mercury General Corporation by 6.3% in the first quarter. Flinton Capital Management LLC now owns 2,312 shares of the insurance provider’s stock valued at $141,000 after buying an additional 136 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Mercury General Corporation by 17.5% in the second quarter. LS Investment Advisors LLC now owns 2,922 shares of the insurance provider’s stock valued at $158,000 after buying an additional 435 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of 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 valued at $190,000 after buying an additional 220 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Mercury General Corporation by 21.8% in the first quarter. Pacer Advisors Inc. now owns 3,216 shares of the insurance provider’s stock valued at $196,000 after buying an additional 575 shares during the last quarter. Hedge funds and other institutional investors own 46.42% of the company’s stock.

Mercury General Corporation (NYSE:MCY) traded up 0.53% during midday trading on Friday, hitting $58.57. The stock had a trading volume of 83,879 shares. The company has a 50-day moving average of $55.53 and a 200-day moving average of $57.57. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 40.96 and a beta of 0.50. Mercury General Corporation has a 1-year low of $50.32 and a 1-year high of $64.52.

Mercury General Corporation (NYSE:MCY) last announced its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.68 EPS for the quarter, beating the Zacks’ 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 company had revenue of $852.80 million during the quarter, compared to analysts’ expectations of $815.85 million. During the same period in the prior year, the company earned $0.88 EPS. Mercury General Corporation’s revenue was down .6% compared to the same quarter last year. Equities research analysts forecast that Mercury General Corporation will post $1.97 EPS for the current year.

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Wednesday, September 13th. Mercury General Corporation’s payout ratio is 172.92%.

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Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Mercury General Corporation from a “sell” rating to a “hold” rating and set a $68.00 price objective for the company in a research report on Wednesday, August 2nd. BidaskClub upgraded Mercury General Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd.

In other news, CEO Gabriel Tirador sold 2,355 shares of the stock in a transaction on 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 approximately $2,138,101. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Randall R. Petro sold 1,672 shares of the stock in a transaction on Wednesday, June 14th. The shares were 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. 34.30% of the stock is currently owned by corporate insiders.

About Mercury General Corporation

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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Institutional Ownership by Quarter for Mercury General Corporation (NYSE:MCY)

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