Mercury General Co. (NYSE:MCY) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in shares of Mercury General Co. (NYSE:MCY) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,064 shares of the insurance provider’s stock after selling 993 shares during the period. Thrivent Financial for Lutherans’ holdings in Mercury General were worth $1,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of MCY. Russell Investments Group Ltd. boosted its holdings in Mercury General by 7,606.6% during the 1st quarter. Russell Investments Group Ltd. now owns 53,330 shares of the insurance provider’s stock valued at $2,752,000 after acquiring an additional 52,638 shares during the period. Vanguard Group Inc. boosted its stake in shares of Mercury General by 1.5% in the first quarter. Vanguard Group Inc. now owns 3,256,765 shares of the insurance provider’s stock valued at $168,049,000 after purchasing an additional 48,508 shares during the period. Caxton Associates LP acquired a new position in shares of Mercury General in the first quarter valued at approximately $486,000. Sei Investments Co. increased its stake in Mercury General by 132.7% during the 1st quarter. Sei Investments Co. now owns 17,561 shares of the insurance provider’s stock worth $906,000 after buying an additional 10,014 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Mercury General by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 52,688 shares of the insurance provider’s stock worth $2,800,000 after buying an additional 8,976 shares in the last quarter. 42.39% of the stock is owned by institutional investors and hedge funds.

Mercury General Stock Performance

NYSE:MCY opened at $65.09 on Friday. Mercury General Co. has a 52 week low of $27.46 and a 52 week high of $67.11. The company has a fifty day simple moving average of $61.53 and a two-hundred day simple moving average of $56.56. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.35. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 16.73 and a beta of 0.81.

Mercury General (NYSE:MCY) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.29. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.33 billion. Mercury General had a return on equity of 14.91% and a net margin of 6.36%. During the same quarter in the prior year, the business earned ($0.47) EPS. As a group, equities analysts anticipate that Mercury General Co. will post 4 earnings per share for the current fiscal year.

Mercury General Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a $0.3175 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.27 annualized dividend and a yield of 1.95%. Mercury General’s dividend payout ratio (DPR) is 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.