Mutual of America Capital Management LLC Decreases Stock Position in Mercury General Co. (NYSE:MCY)

Mutual of America Capital Management LLC lessened its stake in shares of Mercury General Co. (NYSE:MCY) by 8.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,998 shares of the insurance provider’s stock after selling 371 shares during the period. Mutual of America Capital Management LLC’s holdings in Mercury General were worth $252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Louisiana State Employees Retirement System raised its holdings in Mercury General by 1.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the insurance provider’s stock valued at $712,000 after buying an additional 200 shares during the period. Diversified Trust Co raised its holdings in Mercury General by 4.2% during the 2nd quarter. Diversified Trust Co now owns 8,158 shares of the insurance provider’s stock valued at $434,000 after buying an additional 326 shares during the period. The Manufacturers Life Insurance Company increased its stake in Mercury General by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 15,660 shares of the insurance provider’s stock worth $832,000 after purchasing an additional 396 shares during the period. Empowered Funds LLC increased its stake in Mercury General by 4.6% in the third quarter. Empowered Funds LLC now owns 10,287 shares of the insurance provider’s stock worth $648,000 after purchasing an additional 454 shares during the period. Finally, Blue Trust Inc. increased its stake in Mercury General by 72.0% in the third quarter. Blue Trust Inc. now owns 1,151 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 482 shares during the period. Hedge funds and other institutional investors own 42.39% of the company’s stock.

Mercury General Stock Performance

MCY stock opened at $78.85 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.31. The business’s fifty day simple moving average is $68.41 and its two-hundred day simple moving average is $61.24. Mercury General Co. has a twelve month low of $36.37 and a twelve month high of $79.76. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 7.81 and a beta of 0.81.

Mercury General (NYSE:MCY) last released its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $1.39. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the firm posted $1.14 earnings per share. Analysts predict that Mercury General Co. will post 6.35 earnings per share for the current year.

Mercury General Cuts Dividend

The company 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 dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Thursday, December 12th. Mercury General’s payout ratio is 12.59%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Mercury General from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

Mercury General Company 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.