Swiss National Bank lessened its position in shares of Mercury General Co. (NYSE:MCY) by 3.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,000 shares of the insurance provider’s stock after selling 2,300 shares during the quarter. Swiss National Bank owned about 0.11% of Mercury General worth $3,962,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Mercury General by 8.6% in the 1st quarter. BlackRock Inc. now owns 2,457,930 shares of the insurance provider’s stock valued at $149,467,000 after purchasing an additional 193,615 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Mercury General by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,522,211 shares of the insurance provider’s stock valued at $92,567,000 after purchasing an additional 17,117 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Mercury General by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 712,542 shares of the insurance provider’s stock valued at $43,330,000 after purchasing an additional 10,256 shares during the last quarter. OLD Republic International Corp purchased a new position in shares of Mercury General in the 2nd quarter valued at approximately $33,254,000. Finally, Absher Wealth Management LLC grew its stake in shares of Mercury General by 1.4% in the 2nd quarter. Absher Wealth Management LLC now owns 451,302 shares of the insurance provider’s stock valued at $29,312,000 after purchasing an additional 6,031 shares during the last quarter. Institutional investors own 39.86% of the company’s stock.
MCY opened at $56.62 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50 day simple moving average of $59.63 and a 200-day simple moving average of $61.90. The stock has a market capitalization of $3.14 billion, a P/E ratio of 6.25 and a beta of 0.38. Mercury General Co. has a 12 month low of $39.48 and a 12 month high of $67.88.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be issued a $0.632 dividend. The ex-dividend date of this dividend is Wednesday, September 15th. This represents a $2.53 annualized dividend and a dividend yield of 4.46%. Mercury General’s dividend payout ratio is currently 45.67%.
About Mercury General
Mercury General Corp. operates as a broker and agency writer of automobile insurance. The firm engages in writing personal automobile insurance and provides related property and casualty insurance products to its customers. Its insurance products include private passenger automobile and related insurance products such as homeowners, commercial automobile and commercial property.
Featured Article: S&P 500 Index
Receive News & Ratings for Mercury General Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercury General and related companies with MarketBeat.com's FREE daily email newsletter.