AQR Capital Management LLC Has $1.02 Million Stock Position in Mercury General Co. (NYSE:MCY)

AQR Capital Management LLC lessened its stake in Mercury General Co. (NYSE:MCY) by 25.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,438 shares of the insurance provider’s stock after selling 6,487 shares during the quarter. AQR Capital Management LLC’s holdings in Mercury General were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Mercury General by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 3,256,765 shares of the insurance provider’s stock worth $168,049,000 after buying an additional 48,508 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Mercury General by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,999,235 shares of the insurance provider’s stock valued at $106,237,000 after purchasing an additional 88,954 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Mercury General by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 310,333 shares of the insurance provider’s stock worth $16,491,000 after buying an additional 11,242 shares during the period. Hennessy Advisors Inc. acquired a new position in Mercury General in the second quarter valued at approximately $8,492,000. Finally, Panagora Asset Management Inc. lifted its holdings in Mercury General by 44.7% in the second quarter. Panagora Asset Management Inc. now owns 147,839 shares of the insurance provider’s stock valued at $7,856,000 after buying an additional 45,671 shares during the period. 42.39% of the stock is currently owned by institutional investors and hedge funds.

Mercury General Stock Performance

Shares of Mercury General stock opened at $65.07 on Friday. Mercury General Co. has a 52 week low of $28.40 and a 52 week high of $67.11. The firm has a fifty day moving average of $62.01 and a two-hundred day moving average of $57.11. 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 has a market capitalization of $3.60 billion, a price-to-earnings ratio of 11.28 and a beta of 0.81.

Mercury General (NYSE:MCY) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.29. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.33 billion. Mercury General had a net margin of 6.36% and a return on equity of 14.91%. During the same period last year, the company posted ($0.47) EPS. As a group, equities research analysts predict that Mercury General Co. will post 4 EPS for the current year.

Mercury General Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a $0.3175 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.27 dividend on an annualized basis and a yield of 1.95%. Mercury General’s payout ratio is 22.01%.

About Mercury General

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.