NJ State Employees Deferred Compensation Plan Has $270,000 Position in Mercury General Corporation (NYSE:MCY)

NJ State Employees Deferred Compensation Plan held its stake in shares of Mercury General Corporation (NYSE:MCY) during the second quarter, Holdings Channel reports. The firm owned 5,000 shares of the insurance provider’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in Mercury General Corporation were worth $270,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Tyers Asset Management LLC boosted its stake in shares of Mercury General Corporation by 6.3% in the first quarter. Tyers Asset Management LLC now owns 1,904 shares of the insurance provider’s stock worth $116,000 after buying an additional 112 shares during the last quarter. Flinton Capital Management LLC boosted its stake in shares of Mercury General Corporation by 6.3% in the first quarter. Flinton Capital Management LLC now owns 2,312 shares of the insurance provider’s stock worth $141,000 after buying an additional 136 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of 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 buying an additional 435 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Mercury General Corporation by 7.6% in the first quarter. State of Alaska Department of Revenue now owns 3,120 shares of the insurance provider’s stock worth $190,000 after buying an additional 220 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Mercury General Corporation by 21.8% in the first quarter. Pacer Advisors Inc. now owns 3,216 shares of the insurance provider’s stock worth $196,000 after buying an additional 575 shares during the last quarter. Institutional investors and hedge funds own 46.42% of the company’s stock.

Shares of Mercury General Corporation (NYSE MCY) opened at 58.77 on Thursday. Mercury General Corporation has a 52 week low of $50.32 and a 52 week high of $64.52. The stock has a 50 day moving average of $55.42 and a 200-day moving average of $57.56. The firm has a market capitalization of $3.25 billion, a PE ratio of 41.10 and a beta of 0.50.

Mercury General Corporation (NYSE:MCY) last posted its quarterly earnings data on Monday, July 31st. The insurance provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.18. The firm had revenue of $852.80 million for the quarter, compared to analysts’ expectations of $815.85 million. Mercury General Corporation had a return on equity of 6.66% and a net margin of 2.45%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 EPS. Equities analysts anticipate that Mercury General Corporation will post $1.97 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be given a dividend of $0.6225 per share. This represents a $2.49 annualized dividend and a yield of 4.24%. The ex-dividend date is Wednesday, September 13th. Mercury General Corporation’s payout ratio is 172.92%.

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A number of brokerages have recently weighed in on MCY. BidaskClub upgraded shares of Mercury General Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research cut shares of Mercury General Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 3rd.

In other Mercury General Corporation news, VP Randall R. Petro sold 1,672 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $55.52, for a total transaction of $92,829.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gabriel Tirador sold 2,355 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $59.00, for a total value of $138,945.00. Following the transaction, the chief executive officer now owns 36,239 shares in the company, valued at approximately $2,138,101. The disclosure for this sale can be found here. 34.30% of the stock is owned by company insiders.

About Mercury General Corporation

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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Institutional Ownership by Quarter for Mercury General Corporation (NYSE:MCY)

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