Bokf Na Takes Position in Mercury General Co. (NYSE:MCY)

Bokf Na acquired a new stake in shares of Mercury General Co. (NYSE:MCY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 11,436 shares of the insurance provider’s stock, valued at approximately $608,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. purchased a new position in Mercury General in the 4th quarter worth $228,000. Charles Schwab Investment Management Inc. increased its position in shares of Mercury General by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 504,744 shares of the insurance provider’s stock valued at $18,832,000 after acquiring an additional 14,688 shares during the period. Teacher Retirement System of Texas increased its position in shares of Mercury General by 118.2% in the fourth quarter. Teacher Retirement System of Texas now owns 16,338 shares of the insurance provider’s stock valued at $610,000 after acquiring an additional 8,851 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Mercury General by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,893,881 shares of the insurance provider’s stock valued at $70,662,000 after acquiring an additional 79,659 shares during the period. Finally, Panagora Asset Management Inc. increased its position in shares of Mercury General by 132.3% in the fourth quarter. Panagora Asset Management Inc. now owns 56,962 shares of the insurance provider’s stock valued at $2,125,000 after acquiring an additional 32,439 shares during the period. Hedge funds and other institutional investors own 42.39% of the company’s stock.

Mercury General Trading Up 0.9 %

Shares of MCY opened at $58.41 on Monday. The firm’s 50-day moving average price is $59.58 and its 200-day moving average price is $55.17. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 15.02 and a beta of 0.81. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.35. Mercury General Co. has a 1-year low of $27.27 and a 1-year high of $67.11.

Mercury General (NYSE:MCY) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.29. Mercury General had a net margin of 6.36% and a return on equity of 14.91%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm posted ($0.47) EPS. Sell-side analysts anticipate that Mercury General Co. will post 4 EPS for the current year.

Mercury General Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.27 annualized dividend and a yield of 2.17%. Mercury General’s dividend payout ratio (DPR) 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.