Mercury General Co. (MCY) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its stake in shares of Mercury General Co. (NYSE:MCY) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,609 shares of the insurance provider’s stock after selling 4,672 shares during the period. California State Teachers Retirement System owned about 0.08% of Mercury General worth $2,586,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MCY. Schwab Charles Investment Management Inc. raised its holdings in shares of Mercury General by 7.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 233,904 shares of the insurance provider’s stock worth $12,631,000 after acquiring an additional 15,249 shares during the period. Legal & General Group Plc raised its holdings in shares of Mercury General by 14.8% during the second quarter. Legal & General Group Plc now owns 41,700 shares of the insurance provider’s stock worth $2,252,000 after acquiring an additional 5,388 shares during the period. Prudential Financial Inc. raised its holdings in shares of Mercury General by 10.5% during the second quarter. Prudential Financial Inc. now owns 34,635 shares of the insurance provider’s stock worth $1,870,000 after acquiring an additional 3,280 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Mercury General by 2.9% during the second quarter. Pacer Advisors Inc. now owns 3,308 shares of the insurance provider’s stock worth $179,000 after acquiring an additional 92 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Mercury General by 5.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,632 shares of the insurance provider’s stock worth $250,000 after acquiring an additional 236 shares during the period. Institutional investors and hedge funds own 46.04% of the company’s stock.

A number of equities research analysts recently commented on MCY shares. Zacks Investment Research lowered shares of Mercury General from a “buy” rating to a “sell” rating in a report on Wednesday, October 4th. TheStreet lowered shares of Mercury General from a “b” rating to a “c+” rating in a report on Monday, October 30th.

Mercury General Co. (MCY) opened at $53.69 on Friday. The firm has a market cap of $2,970.00, a price-to-earnings ratio of 29.99, a P/E/G ratio of 0.61 and a beta of 0.51. Mercury General Co. has a 12-month low of $51.58 and a 12-month high of $64.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.46 and a quick ratio of 0.46.

Mercury General (NYSE:MCY) last released its earnings results on Monday, October 30th. The insurance provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.18. The business had revenue of $827.42 million during the quarter, compared to the consensus estimate of $835.00 million. Mercury General had a net margin of 3.00% and a return on equity of 6.47%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share. equities analysts forecast that Mercury General Co. will post 1.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 14th were given a $0.625 dividend. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $2.50 dividend on an annualized basis and a yield of 4.66%. This is an increase from Mercury General’s previous quarterly dividend of $0.62. Mercury General’s dividend payout ratio (DPR) is 139.66%.

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Mercury General 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.

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

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