Victory Capital Management Inc. Has $639,000 Stock Holdings in Mercury General Co. (NYSE:MCY)

Victory Capital Management Inc. increased its holdings in shares of Mercury General Co. (NYSE:MCY) by 49.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,019 shares of the insurance provider’s stock after buying an additional 3,989 shares during the period. Victory Capital Management Inc.’s holdings in Mercury General were worth $639,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MCY. National Bank of Canada FI acquired a new position in shares of Mercury General in the 2nd quarter worth approximately $32,000. TD Asset Management Inc acquired a new position in shares of Mercury General in the 2nd quarter worth approximately $515,000. nVerses Capital LLC acquired a new position in shares of Mercury General in the 2nd quarter worth approximately $96,000. Panagora Asset Management Inc. lifted its position in shares of Mercury General by 44.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 147,839 shares of the insurance provider’s stock worth $7,856,000 after purchasing an additional 45,671 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Mercury General by 272.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 28,811 shares of the insurance provider’s stock worth $1,531,000 after purchasing an additional 21,079 shares during the period. 42.39% of the stock is currently owned by institutional investors and hedge funds.

Mercury General Stock Performance

NYSE:MCY opened at $60.05 on Monday. The company has a fifty day moving average of $60.21 and a 200-day moving average of $55.57. The firm has a market capitalization of $3.32 billion, a P/E ratio of 15.44 and a beta of 0.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.35. Mercury General Co. has a twelve month low of $27.27 and a twelve month high of $67.11.

Mercury General (NYSE:MCY) last released its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.29. The company 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 quarter in the previous year, the business posted ($0.47) EPS. As a group, sell-side analysts anticipate that Mercury General Co. will post 4 EPS for the current year.

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 is Thursday, September 12th. This represents a $1.27 annualized dividend and a dividend yield of 2.11%. Mercury General’s dividend payout ratio is currently 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.