Texas Permanent School Fund Corp lifted its holdings in shares of Mercury General Co. (NYSE:MCY – Free Report) by 32.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,884 shares of the insurance provider’s stock after purchasing an additional 7,623 shares during the period. Texas Permanent School Fund Corp owned about 0.06% of Mercury General worth $1,641,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. CWM LLC raised its stake 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 purchasing an additional 510 shares during the period. National Bank of Canada FI bought a new stake in shares of Mercury General during the 2nd quarter worth $32,000. Blue Trust Inc. raised its stake in shares of Mercury General by 8,262.5% during the 2nd 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. FSC Wealth Advisors LLC bought a new stake in shares of Mercury General during the 2nd quarter worth $64,000. Finally, Covestor Ltd raised its stake 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 worth $81,000 after purchasing an additional 271 shares during the period. 42.39% of the stock is currently owned by institutional investors.
Mercury General Trading Up 0.3 %
Shares of Mercury General stock opened at $59.55 on Thursday. Mercury General Co. has a 52-week low of $27.27 and a 52-week high of $67.11. The stock’s 50-day simple moving average is $59.84 and its 200 day simple moving average is $55.32. The stock has a market capitalization of $3.30 billion, a P/E ratio of 15.28 and a beta of 0.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.31 and a current ratio of 0.31.
Mercury General Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, September 12th. 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.
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