Dimensional Fund Advisors LP Buys 88,954 Shares of Mercury General Co. (NYSE:MCY)

Dimensional Fund Advisors LP increased its stake in Mercury General Co. (NYSE:MCY) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,999,235 shares of the insurance provider’s stock after buying an additional 88,954 shares during the period. Dimensional Fund Advisors LP owned 3.61% of Mercury General worth $106,237,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CWM LLC raised its stake in Mercury General by 962.3% in the second quarter. CWM LLC now owns 563 shares of the insurance provider’s stock worth $30,000 after buying an additional 510 shares in the last quarter. National Bank of Canada FI bought a new position in Mercury General in the second quarter worth about $32,000. Blue Trust Inc. raised its stake in Mercury General by 8,262.5% in the second quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock worth $35,000 after buying an additional 661 shares in the last quarter. FSC Wealth Advisors LLC bought a new position in Mercury General in the second quarter worth about $64,000. Finally, Covestor Ltd increased its stake in shares of Mercury General by 20.8% during the first quarter. Covestor Ltd now owns 1,571 shares of the insurance provider’s stock valued at $81,000 after purchasing an additional 271 shares in the last quarter. 42.39% of the stock is owned by institutional investors.

Mercury General Price Performance

Shares of NYSE MCY opened at $62.47 on Tuesday. Mercury General Co. has a fifty-two week low of $27.27 and a fifty-two week high of $67.11. The company has a 50 day simple moving average of $60.36 and a two-hundred day simple moving average of $55.67. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 16.06 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 (NYSE:MCY) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $1.09 EPS 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 analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the company posted ($0.47) earnings per share. Analysts expect that Mercury General Co. will post 4 EPS for the current fiscal year.

Mercury General Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be given a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 12th. 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.