Crawford Investment Counsel Inc. trimmed its position in Mercury General Co. (NYSE:MCY) by 5.2% during the first quarter, HoldingsChannel reports. The firm owned 206,079 shares of the insurance provider’s stock after selling 11,400 shares during the period. Crawford Investment Counsel Inc.’s holdings in Mercury General were worth $10,318,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in MCY. BlackRock Inc. lifted its holdings in shares of Mercury General by 1.6% during the 4th quarter. BlackRock Inc. now owns 2,524,258 shares of the insurance provider’s stock worth $130,528,000 after acquiring an additional 39,641 shares during the period. Norges Bank acquired a new stake in Mercury General during the 4th quarter worth approximately $31,116,000. Victory Capital Management Inc. increased its position in Mercury General by 37.4% during the 4th quarter. Victory Capital Management Inc. now owns 568,705 shares of the insurance provider’s stock worth $29,408,000 after purchasing an additional 154,775 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd increased its position in Mercury General by 18.4% during the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 489,454 shares of the insurance provider’s stock worth $24,506,000 after purchasing an additional 76,100 shares in the last quarter. Finally, Frontier Investment Mgmt Co. increased its position in Mercury General by 1.8% during the 4th quarter. Frontier Investment Mgmt Co. now owns 288,212 shares of the insurance provider’s stock worth $14,903,000 after purchasing an additional 5,173 shares in the last quarter. Institutional investors own 47.89% of the company’s stock.
A number of analysts recently issued reports on MCY shares. Zacks Investment Research raised shares of Mercury General from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 16th. ValuEngine raised shares of Mercury General from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Finally, TheStreet raised shares of Mercury General from a “c” rating to a “b” rating in a research report on Tuesday, April 30th.
Mercury General (NYSE:MCY) last issued its quarterly earnings data on Monday, April 29th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.10. Mercury General had a net margin of 4.78% and a return on equity of 8.50%. The company had revenue of $919.50 million during the quarter, compared to the consensus estimate of $917.25 million. During the same quarter last year, the company earned $0.07 earnings per share. Mercury General’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts anticipate that Mercury General Co. will post 3.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be given a $0.6275 dividend. This is an increase from Mercury General’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $2.51 annualized dividend and a yield of 4.40%. Mercury General’s dividend payout ratio (DPR) is 139.44%.
In other Mercury General news, Director George Gwyer Braunegg bought 500 shares of Mercury General stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $50.86 per share, for a total transaction of $25,430.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 34.20% of the company’s stock.
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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, fire, and umbrella insurance. Its automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners' insurance products cover dwelling, liability, personal property, fire, and other hazards.
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