Empowered Funds LLC Acquires 454 Shares of Mercury General Co. (NYSE:MCY)

Empowered Funds LLC increased its holdings in Mercury General Co. (NYSE:MCY) by 4.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,287 shares of the insurance provider’s stock after buying an additional 454 shares during the period. Empowered Funds LLC’s holdings in Mercury General were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP raised its position in shares of Mercury General by 1,190.5% in the 3rd quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 500 shares in the last quarter. CWM LLC raised its holdings 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 purchasing 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. lifted its position in shares of Mercury General by 8,262.5% during the second quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock valued at $35,000 after buying an additional 661 shares during the last quarter. Finally, FSC Wealth Advisors LLC bought a new stake in shares of Mercury General in the 2nd quarter valued at about $64,000. Hedge funds and other institutional investors own 42.39% of the company’s stock.

Mercury General Trading Up 1.1 %

NYSE MCY opened at $77.27 on Friday. Mercury General Co. has a 52 week low of $36.37 and a 52 week high of $77.48. The company has a 50 day moving average price of $67.27 and a 200 day moving average price of $60.80. 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 firm has a market cap of $4.28 billion, a PE ratio of 7.66 and a beta of 0.81.

Mercury General (NYSE:MCY) last announced its quarterly earnings data on Tuesday, October 29th. The insurance provider reported $2.54 EPS for the quarter, beating the consensus estimate of $1.15 by $1.39. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.37 billion. Mercury General had a net margin of 10.18% and a return on equity of 18.04%. During the same period last year, the firm posted $1.14 EPS. As a group, sell-side analysts forecast that Mercury General Co. will post 6.35 EPS for the current fiscal year.

Mercury General Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.64%. Mercury General’s dividend payout ratio (DPR) is 12.59%.

Mercury General 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.