Inspire Investing LLC trimmed its holdings in Mercury General Co. (NYSE:MCY – Free Report) by 3.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,655 shares of the insurance provider’s stock after selling 246 shares during the period. Inspire Investing LLC’s holdings in Mercury General were worth $354,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in MCY. Louisiana State Employees Retirement System raised its holdings in shares of Mercury General by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the insurance provider’s stock valued at $712,000 after purchasing an additional 200 shares during the last quarter. Covestor Ltd boosted its stake in shares of Mercury General by 20.8% in the 1st quarter. Covestor Ltd now owns 1,571 shares of the insurance provider’s stock worth $81,000 after buying an additional 271 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Mercury General by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 23,261 shares of the insurance provider’s stock worth $1,200,000 after buying an additional 311 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Mercury General by 2.1% during the first quarter. Illinois Municipal Retirement Fund now owns 15,179 shares of the insurance provider’s stock valued at $783,000 after acquiring an additional 315 shares during the last quarter. Finally, Diversified Trust Co increased its position in Mercury General by 4.2% during the second quarter. Diversified Trust Co now owns 8,158 shares of the insurance provider’s stock valued at $434,000 after acquiring an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 42.39% of the company’s stock.
Mercury General Stock Performance
Shares of NYSE:MCY opened at $60.05 on Monday. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 15.44 and a beta of 0.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s 50-day simple moving average is $60.21 and its two-hundred day simple moving average is $55.57. Mercury General Co. has a 52-week low of $27.27 and a 52-week high of $67.11.
Mercury General Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.27 annualized dividend and a dividend yield of 2.11%. Mercury General’s dividend payout ratio (DPR) is 32.65%.
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, 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.
Featured Stories
- Five stocks we like better than Mercury General
- Industrial Products Stocks Investing
- 3 Stocks That Could Rise on European Bank Interest Rate Cuts
- How to Invest in Tech Stocks and Top Tech Stocks to Consider
- Take Advantage of Village Farms Stock as Cannabis Market Evolves
- What Makes a Stock a Good Dividend Stock?
- MarketBeat Week in Review – 9/16 – 9/20
Want to see what other hedge funds are holding MCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercury General Co. (NYSE:MCY – Free Report).
Receive News & Ratings for Mercury General Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercury General and related companies with MarketBeat.com's FREE daily email newsletter.