New York State Teachers Retirement System Cuts Position in Mercury General Co. (NYSE:MCY)

New York State Teachers Retirement System lessened its holdings in shares of Mercury General Co. (NYSE:MCY) by 0.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,544 shares of the insurance provider’s stock after selling 298 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Mercury General worth $2,931,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in MCY. CWM LLC grew its holdings in Mercury General by 962.3% during the 2nd quarter. CWM LLC now owns 563 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 510 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Mercury General during the 2nd quarter worth $32,000. Allworth Financial LP grew its stake in shares of Mercury General by 1,190.5% during the third quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. increased its holdings in Mercury General by 8,262.5% in the second quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock valued at $35,000 after buying an additional 661 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new stake in Mercury General in the second quarter valued at $64,000. 42.39% of the stock is currently owned by institutional investors and hedge funds.

Mercury General Trading Down 0.3 %

NYSE:MCY opened at $72.68 on Friday. Mercury General Co. has a 1 year low of $35.47 and a 1 year high of $73.72. The stock has a market cap of $4.02 billion, a P/E ratio of 7.20 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a 50-day simple moving average of $64.47 and a 200-day simple moving average of $59.24.

Mercury General (NYSE:MCY) last announced its quarterly earnings results on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $1.39. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.37 billion. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. During the same period in the prior year, the company posted $1.14 earnings per share. As a group, analysts anticipate that Mercury General Co. will post 4 earnings per share for the current fiscal year.

Mercury General Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Thursday, December 12th will be given a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Thursday, December 12th. Mercury General’s dividend payout ratio (DPR) is 12.59%.

Mercury General Company 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.