Strs Ohio Cuts Stake in Mercury General Co. (MCY)

Strs Ohio decreased its holdings in Mercury General Co. (NYSE:MCY) by 12.5% in the first quarter, HoldingsChannel reports. The firm owned 5,831 shares of the insurance provider’s stock after selling 833 shares during the period. Strs Ohio’s holdings in Mercury General were worth $291,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Mercury General by 20.2% during the 4th quarter. Principal Financial Group Inc. now owns 142,014 shares of the insurance provider’s stock valued at $7,344,000 after buying an additional 23,884 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in Mercury General by 68.8% during the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 413,354 shares of the insurance provider’s stock valued at $21,374,000 after buying an additional 168,493 shares during the last quarter. Martingale Asset Management L P raised its holdings in Mercury General by 91.7% during the 4th quarter. Martingale Asset Management L P now owns 39,308 shares of the insurance provider’s stock valued at $2,033,000 after buying an additional 18,801 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Mercury General during the 4th quarter valued at $10,168,000. Finally, Ibex Investors LLC bought a new stake in Mercury General during the 4th quarter valued at $213,000. 48.54% of the stock is owned by institutional investors.

Shares of NYSE MCY opened at $56.33 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. Mercury General Co. has a 12 month low of $43.46 and a 12 month high of $61.83. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 31.29, a P/E/G ratio of 0.42 and a beta of 0.26.

Mercury General (NYSE:MCY) last issued its quarterly earnings data on Monday, April 29th. The insurance provider reported $0.87 EPS for the quarter, topping 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 business had revenue of $919.50 million during the quarter, compared to analyst estimates of $917.25 million. During the same period in the prior year, the business earned $0.07 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts expect that Mercury General Co. will post 3.55 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be issued a $0.6275 dividend. The ex-dividend date is Wednesday, June 12th. This is a positive change from Mercury General’s previous quarterly dividend of $0.63. This represents a $2.51 annualized dividend and a yield of 4.46%. Mercury General’s dividend payout ratio is 139.44%.

In related news, Director George Gwyer Braunegg acquired 500 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired 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 link. 34.20% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently commented on the stock. TheStreet upgraded shares of Mercury General from a “c” rating to a “b” rating in a report on Tuesday, April 30th. ValuEngine upgraded shares of Mercury General from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Finally, Zacks Investment Research upgraded shares of Mercury General from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 1st.

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

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