Texas Permanent School Fund lessened its holdings in shares of Mercury General Co. (NYSE:MCY) by 7.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,686 shares of the insurance provider’s stock after selling 1,964 shares during the quarter. Texas Permanent School Fund’s holdings in Mercury General were worth $1,319,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MCY. State Street Corp increased its position in Mercury General by 17.2% during the 2nd quarter. State Street Corp now owns 2,877,538 shares of the insurance provider’s stock worth $155,388,000 after purchasing an additional 423,115 shares in the last quarter. Renaissance Technologies LLC grew its position in Mercury General by 12.8% in the second quarter. Renaissance Technologies LLC now owns 297,000 shares of the insurance provider’s stock valued at $16,038,000 after acquiring an additional 33,600 shares in the last quarter. Citadel Advisors LLC grew its position in Mercury General by 18.7% in the third quarter. Citadel Advisors LLC now owns 187,767 shares of the insurance provider’s stock valued at $10,645,000 after acquiring an additional 29,553 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Mercury General by 2.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,299,375 shares of the insurance provider’s stock valued at $73,662,000 after acquiring an additional 26,723 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Mercury General in the third quarter valued at approximately $1,139,000. 46.00% of the stock is owned by hedge funds and other institutional investors.

Shares of Mercury General Co. (NYSE:MCY) opened at $43.12 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.43 and a quick ratio of 0.43. Mercury General Co. has a 1 year low of $41.40 and a 1 year high of $63.23. The stock has a market cap of $2,385.92, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 0.51 and a beta of 0.42.

Mercury General (NYSE:MCY) last issued its quarterly earnings data on Monday, February 5th. The insurance provider reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.18). Mercury General had a net margin of 4.24% and a return on equity of 5.14%. The firm had revenue of $779.20 million during the quarter, compared to analyst estimates of $847.35 million. During the same period last year, the business earned $0.58 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year. equities research analysts forecast that Mercury General Co. will post 2.72 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.80%. The ex-dividend date of this dividend is Wednesday, March 14th. Mercury General’s dividend payout ratio (DPR) is 95.42%.

Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Mercury General from a “buy” rating to a “hold” rating in a research report on Friday. TheStreet downgraded shares of Mercury General from a “b” rating to a “c+” rating in a research report on Monday, October 30th.

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About Mercury General

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.

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

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