40,679 Shares in Mercury General Co. (NYSE:MCY) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new stake in Mercury General Co. (NYSE:MCY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 40,679 shares of the insurance provider’s stock, valued at approximately $2,162,000. Edgestream Partners L.P. owned 0.07% of Mercury General at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. CWM LLC raised its position in Mercury General by 962.3% in the 2nd quarter. CWM LLC now owns 563 shares of the insurance provider’s stock valued at $30,000 after buying an additional 510 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Mercury General in the second quarter valued at approximately $32,000. Blue Trust Inc. lifted its position in shares of Mercury General by 8,262.5% in the second quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 661 shares in the last quarter. FSC Wealth Advisors LLC acquired a new position in Mercury General during the second quarter worth $64,000. Finally, Covestor Ltd grew its position in Mercury General by 20.8% in the first quarter. Covestor Ltd now owns 1,571 shares of the insurance provider’s stock valued at $81,000 after purchasing an additional 271 shares in the last quarter. 42.39% of the stock is currently owned by institutional investors.

Mercury General Trading Up 0.3 %

Shares of NYSE:MCY opened at $59.55 on Thursday. The company’s 50-day moving average price is $59.84 and its two-hundred day moving average price is $55.32. Mercury General Co. has a one year low of $27.27 and a one year high of $67.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $3.30 billion, a PE ratio of 15.31 and a beta of 0.81.

Mercury General (NYSE:MCY) last released its earnings results on Tuesday, July 30th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.29. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.33 billion. Mercury General had a return on equity of 14.91% and a net margin of 6.36%. During the same quarter in the prior year, the company posted ($0.47) earnings per share. On average, equities analysts forecast that Mercury General Co. will post 4 EPS for the current fiscal year.

Mercury General Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a $0.3175 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.27 annualized dividend and a dividend yield of 2.13%. Mercury General’s dividend payout ratio is presently 32.65%.

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.