Mercury General Corporation (MCY) Holdings Raised by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC grew its holdings in Mercury General Corporation (NYSE:MCY) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,399 shares of the insurance provider’s stock after acquiring an additional 1,488 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of Mercury General Corporation worth $1,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. LS Investment Advisors LLC boosted its holdings in 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 worth $158,000 after acquiring an additional 435 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in Mercury General Corporation in the second quarter worth about $166,000. Pacer Advisors Inc. boosted its holdings in Mercury General Corporation by 2.9% in 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 in the last quarter. Flinton Capital Management LLC boosted its holdings in Mercury General Corporation by 55.9% in the second quarter. Flinton Capital Management LLC now owns 3,604 shares of the insurance provider’s stock worth $195,000 after acquiring an additional 1,292 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its holdings in Mercury General Corporation by 57.8% in the second quarter. Riverhead Capital Management LLC now owns 3,630 shares of the insurance provider’s stock worth $196,000 after acquiring an additional 1,330 shares in the last quarter. 46.94% of the stock is owned by institutional investors and hedge funds.

Mercury General Corporation (NYSE:MCY) last released its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.18. The business had revenue of $827.42 million during the quarter, compared to analysts’ expectations of $835.00 million. Mercury General Corporation had a return on equity of 6.47% and a net margin of 3.00%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be given a dividend of $0.625 per share. This is a boost from Mercury General Corporation’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Wednesday, December 13th. Mercury General Corporation’s dividend payout ratio is currently 139.11%.

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Several equities research analysts have weighed in on the company. TheStreet downgraded Mercury General Corporation from a “b” rating to a “c+” rating in a report on Monday. Zacks Investment Research downgraded Mercury General Corporation from a “buy” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, BidaskClub raised Mercury General Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd.

In other news, CEO Gabriel Tirador sold 2,355 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $59.00, for a total transaction of $138,945.00. Following the completion of the transaction, the chief executive officer now directly owns 36,239 shares of the company’s stock, valued at approximately $2,138,101. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 34.30% of the company’s stock.

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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