Robeco Institutional Asset Management B.V. reduced its position in shares of Mercury General Corporation (NYSE:MCY) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 509,232 shares of the insurance provider’s stock after selling 24,845 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.92% of Mercury General Corporation worth $27,499,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its stake in Mercury General Corporation by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 40,369 shares of the insurance provider’s stock worth $2,462,000 after buying an additional 126 shares in the last quarter. Tyers Asset Management LLC raised its stake in Mercury General Corporation by 6.3% in the first quarter. Tyers Asset Management LLC now owns 1,904 shares of the insurance provider’s stock worth $116,000 after buying an additional 112 shares in the last quarter. State Treasurer State of Michigan raised its stake in Mercury General Corporation by 0.7% in the first quarter. State Treasurer State of Michigan now owns 14,800 shares of the insurance provider’s stock worth $903,000 after buying an additional 100 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Mercury General Corporation by 3.5% in the first quarter. Great West Life Assurance Co. Can now owns 20,268 shares of the insurance provider’s stock worth $1,235,000 after buying an additional 679 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Mercury General Corporation by 0.8% in the first quarter. Wells Fargo & Company MN now owns 270,016 shares of the insurance provider’s stock worth $16,469,000 after buying an additional 2,120 shares in the last quarter. 47.04% of the stock is currently owned by institutional investors.

Mercury General Corporation (NYSE:MCY) opened at 58.24 on Monday. Mercury General Corporation has a 52-week low of $50.32 and a 52-week high of $64.52. The firm has a market cap of $3.22 billion, a P/E ratio of 40.73 and a beta of 0.50. The company’s 50 day moving average is $56.65 and its 200-day moving average is $57.23.

Mercury General Corporation (NYSE:MCY) last posted its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18. Mercury General Corporation had a return on equity of 6.66% and a net margin of 2.45%. The business had revenue of $852.80 million for the quarter, compared to the consensus estimate of $815.85 million. During the same quarter in the prior year, the company earned $0.88 EPS. The business’s revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that Mercury General Corporation will post $1.97 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be given a dividend of $0.6225 per share. This represents a $2.49 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Wednesday, September 13th. Mercury General Corporation’s payout ratio is currently 172.92%.

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A number of equities research analysts have recently commented on the stock. BidaskClub raised shares of Mercury General Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of Mercury General Corporation from a “sell” rating to a “hold” rating and set a $68.00 price objective on the stock in a research note on Wednesday, August 2nd.

In related news, VP Randall R. Petro sold 1,672 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $55.52, for a total transaction of $92,829.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gabriel Tirador sold 2,355 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $59.00, for a total value of $138,945.00. Following the sale, the chief executive officer now directly owns 36,239 shares in the company, valued at approximately $2,138,101. The disclosure for this sale can be found here. 34.30% of the stock is owned by company insiders.

About Mercury General Corporation

Mercury General Corporation is an insurance holding company. As of December 31, 2016, the Company and its subsidiaries were engaged in writing personal automobile insurance through 14 insurance subsidiaries in 11 states, principally California. Its segments include Property and Casualty Lines, and Other Lines.

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

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