Nisa Investment Advisors LLC decreased its position in shares of Mercury General Co. (NYSE:MCY) by 54.9% during the 4th quarter, HoldingsChannel reports. The firm owned 16,400 shares of the insurance provider’s stock after selling 19,950 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Mercury General were worth $876,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Massey Quick Simon & CO. LLC bought a new stake in Mercury General during the third quarter worth approximately $108,000. Flinton Capital Management LLC raised its holdings in Mercury General by 55.9% during the second quarter. Flinton Capital Management LLC now owns 3,604 shares of the insurance provider’s stock worth $195,000 after purchasing an additional 1,292 shares in the last quarter. Stifel Financial Corp bought a new stake in Mercury General during the third quarter worth approximately $206,000. Riverhead Capital Management LLC raised its holdings in Mercury General by 57.8% during the second quarter. Riverhead Capital Management LLC now owns 3,630 shares of the insurance provider’s stock worth $196,000 after purchasing an additional 1,330 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in Mercury General during the third quarter worth approximately $244,000. 46.03% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the company. Zacks Investment Research cut Mercury General from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. TheStreet cut Mercury General from a “b” rating to a “c+” rating in a report on Monday, October 30th.
Mercury General (NYSE:MCY) last announced its earnings results on Monday, October 30th. The insurance provider reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.18. Mercury General had a return on equity of 6.47% and a net margin of 3.00%. The firm had revenue of $827.42 million for the quarter, compared to analysts’ expectations of $835.00 million. During the same quarter in the previous year, the company earned $0.67 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. analysts expect that Mercury General Co. will post 1.88 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 14th were issued a dividend of $0.625 per share. This is a boost from Mercury General’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $2.50 annualized dividend and a yield of 4.89%. Mercury General’s payout ratio is presently 139.67%.
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Mercury General Company 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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