Public Sector Pension Investment Board Boosts Holdings in Mercury General Co. (NYSE:MCY)

Public Sector Pension Investment Board grew its stake in shares of Mercury General Co. (NYSE:MCY) by 7.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,441 shares of the insurance provider’s stock after acquiring an additional 3,958 shares during the quarter. Public Sector Pension Investment Board owned about 0.11% of Mercury General worth $3,106,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. CWM LLC grew its position in Mercury General by 962.3% during the second quarter. CWM LLC now owns 563 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 510 shares during the period. National Bank of Canada FI acquired a new position in shares of Mercury General in the 2nd quarter valued at about $32,000. Blue Trust Inc. grew its holdings in shares of Mercury General by 8,262.5% during the 2nd quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 661 shares during the period. FSC Wealth Advisors LLC acquired a new stake in Mercury General during the 2nd quarter worth approximately $64,000. Finally, Covestor Ltd raised its holdings in Mercury General by 20.8% in the first quarter. Covestor Ltd now owns 1,571 shares of the insurance provider’s stock valued at $81,000 after buying an additional 271 shares during the period. 42.39% of the stock is currently owned by hedge funds and other institutional investors.

Mercury General Trading Down 1.1 %

Shares of MCY stock opened at $63.23 on Friday. Mercury General Co. has a fifty-two week low of $27.30 and a fifty-two week high of $67.11. The firm’s 50 day moving average price is $60.90 and its two-hundred day moving average price is $56.07. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 16.25 and a beta of 0.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.35.

Mercury General (NYSE:MCY) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.29. Mercury General had a net margin of 6.36% and a return on equity of 14.91%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the company earned ($0.47) EPS. On average, analysts anticipate that Mercury General Co. will post 4 EPS for the current year.

Mercury General Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a dividend of $0.3175 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.27 annualized dividend and a dividend yield of 2.01%. Mercury General’s payout ratio is currently 32.65%.

Mercury General 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.