State Treasurer State of Michigan lowered its holdings in Mercury General Corporation (NYSE:MCY) by 8.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,700 shares of the insurance provider’s stock after selling 1,300 shares during the period. State Treasurer State of Michigan’s holdings in Mercury General Corporation were worth $777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MCY. State Street Corp grew its stake in shares of Mercury General Corporation by 17.2% in the 2nd quarter. State Street Corp now owns 2,877,538 shares of the insurance provider’s stock worth $155,388,000 after purchasing an additional 423,115 shares during the last quarter. Citadel Advisors LLC grew its stake in shares of Mercury General Corporation by 564.8% in the 2nd 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 last quarter. Vanguard Group Inc. grew its stake in shares of Mercury General Corporation by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 2,465,753 shares of the insurance provider’s stock worth $150,386,000 after purchasing an additional 120,934 shares during the last quarter. Speece Thorson Capital Group Inc. grew its stake in shares of Mercury General Corporation by 171.3% in the 2nd quarter. Speece Thorson Capital Group Inc. now owns 119,976 shares of the insurance provider’s stock worth $6,479,000 after purchasing an additional 75,759 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Mercury General Corporation by 17.0% in the 2nd 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 last quarter. 46.93% of the stock is currently owned by institutional investors.

MCY has been the topic of several recent research reports. Zacks Investment Research raised shares of Mercury General Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday. TheStreet cut shares of Mercury General Corporation from a “b” rating to a “c+” rating in a research note on Monday, October 30th. Finally, BidaskClub raised shares of Mercury General Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd.

Mercury General Corporation (MCY) opened at $55.62 on Friday. Mercury General Corporation has a fifty-two week low of $52.52 and a fifty-two week high of $64.52. The company has a market cap of $3,077.57, a PE ratio of 27.00, a price-to-earnings-growth ratio of 1.12 and a beta of 0.53. 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 Corporation (NYSE:MCY) last announced its earnings results on Monday, October 30th. The insurance provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.42 by $0.18. Mercury General Corporation had a net margin of 3.00% and a return on equity of 6.47%. The company had revenue of $827.42 million during the quarter, compared to analysts’ expectations of $835.00 million. During the same period last year, the company posted $0.67 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. sell-side analysts predict that Mercury General Corporation will post 1.88 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 4.49%. This is a boost from Mercury General Corporation’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, December 13th. Mercury General Corporation’s dividend payout ratio (DPR) is presently 139.11%.

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

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