Mirae Asset Global Investments Co. Ltd. Has $468,000 Stock Position in Mercury General Co. (NYSE:MCY)

Mirae Asset Global Investments Co. Ltd. grew its position in Mercury General Co. (NYSE:MCY) by 9.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,545 shares of the insurance provider’s stock after purchasing an additional 1,077 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Mercury General were worth $468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC acquired a new stake in shares of Mercury General in the 3rd quarter valued at $25,000. Gradient Investments LLC bought a new stake in shares of Mercury General during the 3rd quarter worth about $38,000. Global Retirement Partners LLC increased its holdings in shares of Mercury General by 5,212.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,700 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 1,668 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Mercury General in the 3rd quarter valued at approximately $86,000. Finally, Teacher Retirement System of Texas lifted its holdings in Mercury General by 5.9% in the 3rd quarter. Teacher Retirement System of Texas now owns 7,487 shares of the insurance provider’s stock worth $210,000 after purchasing an additional 416 shares during the last quarter. 42.39% of the stock is owned by hedge funds and other institutional investors.

Mercury General Stock Down 4.9 %

MCY stock opened at $51.66 on Friday. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 29.69 and a beta of 0.80. The company has a 50-day moving average of $50.39 and a two-hundred day moving average of $41.59. Mercury General Co. has a 52-week low of $26.15 and a 52-week high of $57.12. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30.

Mercury General (NYSE:MCY) last announced its earnings results on Tuesday, February 13th. The insurance provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.05 by $1.10. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. Mercury General had a return on equity of 1.17% and a net margin of 2.08%. As a group, equities research analysts anticipate that Mercury General Co. will post 2.9 EPS for the current year.

Mercury General Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were paid a $0.317 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $1.27 annualized dividend and a dividend yield of 2.45%. Mercury General’s payout ratio is 72.99%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Mercury General from a “strong-buy” rating to a “buy” rating in a research report on Friday.

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, and umbrella insurance products. Its automobile insurance products include collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners insurance products comprise dwelling, liability, personal property, and other coverages.