Public Employees Retirement System of Ohio decreased its position in shares of Mercury General Co. (NYSE:MCY) by 1.9% in the second quarter, HoldingsChannel reports. The fund owned 45,217 shares of the insurance provider’s stock after selling 873 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Mercury General were worth $2,826,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. NEXT Financial Group Inc purchased a new stake in Mercury General during the second quarter valued at approximately $73,000. Coastal Investment Advisors Inc. lifted its position in Mercury General by 1,629.3% during the second quarter. Coastal Investment Advisors Inc. now owns 1,297 shares of the insurance provider’s stock valued at $81,000 after acquiring an additional 1,222 shares during the last quarter. Advisor Group Inc. lifted its position in Mercury General by 22.9% during the second quarter. Advisor Group Inc. now owns 2,591 shares of the insurance provider’s stock valued at $162,000 after acquiring an additional 482 shares during the last quarter. Cambria Investment Management L.P. purchased a new stake in Mercury General during the first quarter valued at approximately $134,000. Finally, Iberiabank Corp purchased a new stake in Mercury General during the second quarter valued at approximately $200,000. 43.31% of the stock is owned by institutional investors.
NYSE:MCY traded up $0.03 during midday trading on Monday, reaching $54.93. 2,058 shares of the stock traded hands, compared to its average volume of 175,591. Mercury General Co. has a 12-month low of $47.96 and a 12-month high of $65.22. The business has a 50-day moving average of $54.97 and a two-hundred day moving average of $55.78. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $3.02 billion, a PE ratio of 30.61, a price-to-earnings-growth ratio of 0.45 and a beta of 0.26.
Mercury General (NYSE:MCY) last posted its earnings results on Monday, July 29th. The insurance provider reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.17). Mercury General had a net margin of 5.28% and a return on equity of 7.97%. The firm had revenue of $936.10 million for the quarter, compared to analysts’ expectations of $922.34 million. During the same period in the previous year, the company earned $0.88 EPS. The company’s revenue was up 6.6% on a year-over-year basis. Research analysts anticipate that Mercury General Co. will post 3.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.6275 per share. The ex-dividend date is Wednesday, September 11th. This represents a $2.51 dividend on an annualized basis and a yield of 4.57%. Mercury General’s payout ratio is 139.44%.
A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Mercury General from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. ValuEngine cut shares of Mercury General from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st.
Mercury General Company Profile
Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. The company also writes homeowners, commercial automobile, commercial property, mechanical protection, fire, and umbrella insurance. Its automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners' insurance products cover dwelling, liability, personal property, fire, and other hazards.
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