Mercury General Corporation (MCY) Position Boosted by SG Americas Securities LLC

SG Americas Securities LLC grew its position in shares of Mercury General Corporation (NYSE:MCY) by 107.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,799 shares of the insurance provider’s stock after acquiring an additional 6,615 shares during the quarter. SG Americas Securities LLC’s holdings in Mercury General Corporation were worth $691,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its stake in Mercury General Corporation by 14,206.4% during the first quarter. BlackRock Inc. now owns 6,820,006 shares of the insurance provider’s stock worth $415,954,000 after acquiring an additional 6,772,335 shares during the last quarter. Vanguard Group Inc. increased its stake in Mercury General Corporation by 5.2% during the first quarter. Vanguard Group Inc. now owns 2,465,753 shares of the insurance provider’s stock worth $150,386,000 after acquiring an additional 120,934 shares during the last quarter. State Street Corp increased its stake in Mercury General Corporation by 10.0% during the first quarter. State Street Corp now owns 2,454,423 shares of the insurance provider’s stock worth $149,695,000 after acquiring an additional 222,388 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Mercury General Corporation by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,237,486 shares of the insurance provider’s stock worth $75,474,000 after acquiring an additional 29,223 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Mercury General Corporation by 4.7% during the first quarter. Bank of New York Mellon Corp now owns 457,378 shares of the insurance provider’s stock worth $27,896,000 after acquiring an additional 20,636 shares during the last quarter. Institutional investors own 47.04% of the company’s stock.

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Several brokerages have commented on MCY. BidaskClub upgraded Mercury General Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded Mercury General Corporation from a “sell” rating to a “hold” rating and set a $68.00 price target for the company in a research note on Wednesday, August 2nd.

In related news, VP Randall R. Petro sold 1,672 shares of Mercury General Corporation stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $55.52, for a total transaction of $92,829.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gabriel Tirador sold 2,355 shares of Mercury General Corporation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $59.00, for a total value of $138,945.00. Following the sale, the chief executive officer now directly owns 36,239 shares of the company’s stock, valued at approximately $2,138,101. The disclosure for this sale can be found here. 34.30% of the stock is currently owned by company insiders.

Shares of Mercury General Corporation (NYSE MCY) opened at 54.75 on Friday. The firm’s 50-day moving average price is $57.45 and its 200 day moving average price is $57.18. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 38.29 and a beta of 0.50. Mercury General Corporation has a 52 week low of $50.32 and a 52 week high of $64.52.

Mercury General Corporation (NYSE:MCY) last released its quarterly earnings data on Monday, July 31st. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.18. The firm had revenue of $852.80 million during the quarter, compared to analysts’ expectations of $815.85 million. Mercury General Corporation had a return on equity of 6.66% and a net margin of 2.45%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. On average, analysts anticipate that Mercury General Corporation will post $1.97 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be given a dividend of $0.6225 per share. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $2.49 dividend on an annualized basis and a yield of 4.55%. Mercury General Corporation’s payout ratio is 172.92%.

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.

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

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