SG Americas Securities LLC trimmed its position in Mercury General Co. (NYSE:MCY) by 85.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,860 shares of the insurance provider’s stock after selling 10,939 shares during the period. SG Americas Securities LLC’s holdings in Mercury General were worth $105,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of MCY. State Street Corp boosted its holdings in Mercury General by 17.2% in the 2nd quarter. State Street Corp now owns 2,877,538 shares of the insurance provider’s stock worth $155,388,000 after buying an additional 423,115 shares during the last quarter. Citadel Advisors LLC boosted its holdings in Mercury General by 564.8% in the 2nd quarter. Citadel Advisors LLC now owns 158,214 shares of the insurance provider’s stock worth $8,544,000 after buying an additional 134,414 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Mercury General by 9.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 598,608 shares of the insurance provider’s stock worth $32,324,000 after buying an additional 49,817 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Mercury General by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,272,652 shares of the insurance provider’s stock worth $68,725,000 after buying an additional 35,166 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Mercury General by 12.8% in the 2nd quarter. Renaissance Technologies LLC now owns 297,000 shares of the insurance provider’s stock worth $16,038,000 after buying an additional 33,600 shares during the last quarter. Institutional investors own 46.04% of the company’s stock.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut Mercury General from a “buy” rating to a “sell” rating in a report on Wednesday, October 4th. TheStreet cut Mercury General from a “b” rating to a “c+” rating in a report on Monday, October 30th.
Mercury General (NYSE:MCY) last issued its earnings results on Monday, October 30th. The insurance provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.18. The business had revenue of $827.42 million for the quarter, compared to analysts’ expectations of $835.00 million. Mercury General had a return on equity of 6.47% and a net margin of 3.00%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. research analysts predict that Mercury General Co. will post 1.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders 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. This represents a $2.50 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Wednesday, December 13th. Mercury General’s payout ratio is currently 139.67%.
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About Mercury General
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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