Mercury General Co. (MCY) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in shares of Mercury General Co. (NYSE:MCY) by 30.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,700 shares of the insurance provider’s stock after selling 8,250 shares during the period. Nisa Investment Advisors LLC’s holdings in Mercury General were worth $938,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Mercury General by 2.1% in the second quarter. BlackRock Inc. now owns 2,945,009 shares of the insurance provider’s stock worth $134,175,000 after purchasing an additional 61,532 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Mercury General by 16.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,052,259 shares of the insurance provider’s stock worth $93,500,000 after purchasing an additional 291,742 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Mercury General by 4.2% in the second quarter. Renaissance Technologies LLC now owns 980,900 shares of the insurance provider’s stock worth $44,690,000 after purchasing an additional 39,300 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Mercury General by 19.9% in the second quarter. First Trust Advisors LP now owns 667,843 shares of the insurance provider’s stock worth $30,427,000 after purchasing an additional 111,052 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Mercury General by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 537,048 shares of the insurance provider’s stock worth $24,469,000 after purchasing an additional 24,606 shares during the last quarter. Institutional investors own 47.86% of the company’s stock.

Shares of Mercury General stock opened at $58.50 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. Mercury General Co. has a twelve month low of $41.40 and a twelve month high of $60.19. The firm has a market capitalization of $2.80 billion, a P/E ratio of 35.67, a price-to-earnings-growth ratio of 0.66 and a beta of 0.52.



Mercury General (NYSE:MCY) last issued its quarterly earnings data on Monday, October 29th. The insurance provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.38. The company had revenue of $905.34 million for the quarter, compared to analysts’ expectations of $877.06 million. Mercury General had a net margin of 2.48% and a return on equity of 5.44%. Mercury General’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, sell-side analysts predict that Mercury General Co. will post 2.2 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Thursday, December 13th will be given a dividend of $0.6275 per share. This represents a $2.51 dividend on an annualized basis and a yield of 4.29%. This is a boost from Mercury General’s previous quarterly dividend of $0.63. Mercury General’s dividend payout ratio is 152.44%.

Several analysts recently weighed in on the stock. ValuEngine raised shares of Mercury General from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Zacks Investment Research raised shares of Mercury General from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 26th. TheStreet raised shares of Mercury General from a “c+” rating to a “b-” rating in a research note on Friday, August 10th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Mercury General in a research note on Tuesday, August 28th. They issued a “buy” rating and a $64.00 price objective on the stock.

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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