Victory Capital Management Inc. Has $1.76 Million Holdings in Mercury General Co. (NYSE:MCY)

Victory Capital Management Inc. increased its stake in Mercury General Co. (NYSE:MCY) by 132.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,917 shares of the insurance provider’s stock after purchasing an additional 15,898 shares during the period. Victory Capital Management Inc. owned approximately 0.05% of Mercury General worth $1,758,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in Mercury General by 1,190.5% in the third quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. CWM LLC boosted its holdings in shares of Mercury General by 962.3% during the second 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 acquired a new position in shares of Mercury General in the second quarter valued at approximately $32,000. Blue Trust Inc. increased its stake in shares of Mercury General by 8,262.5% during 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 during the period. Finally, FSC Wealth Advisors LLC acquired a new stake in Mercury General during the 2nd quarter worth approximately $64,000. Institutional investors and hedge funds own 42.39% of the company’s stock.

Mercury General Stock Performance

Shares of NYSE MCY opened at $77.27 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 7.66 and a beta of 0.81. The stock’s fifty day moving average price is $67.27 and its two-hundred day moving average price is $60.83. Mercury General Co. has a one year low of $36.37 and a one year high of $77.48.

Mercury General (NYSE:MCY) last released its quarterly earnings results on Tuesday, October 29th. The insurance provider reported $2.54 EPS for the quarter, beating the consensus estimate of $1.15 by $1.39. Mercury General had a net margin of 10.18% and a return on equity of 18.04%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the company posted $1.14 earnings per share. On average, equities analysts forecast that Mercury General Co. will post 6.35 EPS for the current year.

Mercury General Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Thursday, December 12th will be given a $0.317 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.64%. Mercury General’s payout ratio is 12.59%.

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.