Inspire Investing LLC Reduces Holdings in Mercury General Co. (NYSE:MCY)

Inspire Investing LLC lowered its stake in shares of Mercury General Co. (NYSE:MCY) by 3.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,655 shares of the insurance provider’s stock after selling 246 shares during the quarter. Inspire Investing LLC’s holdings in Mercury General were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. CWM LLC grew its holdings in shares of Mercury General by 962.3% during the 2nd quarter. CWM LLC now owns 563 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 510 shares during the period. National Bank of Canada FI purchased a new stake in Mercury General in the second quarter worth $32,000. Blue Trust Inc. raised its holdings in 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 purchased a new position in Mercury General during the second quarter valued at $64,000. Finally, Covestor Ltd boosted its holdings in shares of Mercury General by 20.8% during the 1st quarter. Covestor Ltd now owns 1,571 shares of the insurance provider’s stock valued at $81,000 after buying an additional 271 shares in the last quarter. 42.39% of the stock is owned by institutional investors.

Mercury General Price Performance

Shares of Mercury General stock opened at $60.05 on Monday. Mercury General Co. has a 1 year low of $27.27 and a 1 year high of $67.11. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 15.44 and a beta of 0.81. The company has a 50-day moving average of $60.21 and a 200 day moving average of $55.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.31 and a quick ratio of 0.31.

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, beating the consensus estimate of $0.80 by $0.29. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates 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 business earned ($0.47) earnings per share. As a group, sell-side analysts anticipate that Mercury General Co. will post 4 earnings per share for the current fiscal year.

Mercury General Dividend Announcement

The business also recently announced 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 is Thursday, September 12th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 2.11%. Mercury General’s dividend payout ratio is currently 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.