State of Alaska Department of Revenue Purchases 1,600 Shares of Mercury General Co. (MCY)

State of Alaska Department of Revenue raised its position in shares of Mercury General Co. (NYSE:MCY) by 51.3% during the 4th quarter, HoldingsChannel reports. The fund owned 4,720 shares of the insurance provider’s stock after purchasing an additional 1,600 shares during the period. State of Alaska Department of Revenue’s holdings in Mercury General were worth $251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its holdings in Mercury General by 0.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,255 shares of the insurance provider’s stock valued at $338,000 after buying an additional 26 shares during the period. Thrivent Financial For Lutherans raised its holdings in Mercury General by 7.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 7,360 shares of the insurance provider’s stock valued at $397,000 after buying an additional 500 shares during the period. Alliancebernstein L.P. raised its holdings in Mercury General by 3.7% during the 2nd quarter. Alliancebernstein L.P. now owns 16,484 shares of the insurance provider’s stock valued at $890,000 after buying an additional 590 shares during the period. Brookstone Capital Management raised its holdings in Mercury General by 18.4% during the 3rd quarter. Brookstone Capital Management now owns 5,817 shares of the insurance provider’s stock valued at $330,000 after buying an additional 904 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Mercury General by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,173 shares of the insurance provider’s stock valued at $2,925,000 after buying an additional 922 shares during the period. 46.09% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on MCY. Zacks Investment Research upgraded Mercury General from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a report on Thursday, January 11th. TheStreet lowered Mercury General from a “b” rating to a “c+” rating in a report on Monday, October 30th.

Mercury General Co. (MCY) opened at $43.00 on Thursday. The company has a market capitalization of $2,357.15, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 0.49 and a beta of 0.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.43 and a quick ratio of 0.46. Mercury General Co. has a 12-month low of $41.40 and a 12-month high of $63.23.

Mercury General (NYSE:MCY) last announced its quarterly earnings data on Monday, February 5th. The insurance provider reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.18). The business had revenue of $779.20 million during the quarter, compared to the consensus estimate of $847.35 million. Mercury General had a net margin of 4.24% and a return on equity of 5.14%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.58 EPS. equities research analysts expect that Mercury General Co. will post 2.78 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.81%. The ex-dividend date is Wednesday, March 14th. Mercury General’s dividend payout ratio (DPR) is presently 95.42%.

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Mercury General Profile

Mercury General Corporation is an insurance holding company. As of December 31, 2016, the Company and its subsidiaries were engaged in writing personal automobile insurance through 14 insurance subsidiaries in 11 states, principally California. Its segments include Property and Casualty Lines, and Other Lines.

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Institutional Ownership by Quarter for Mercury General (NYSE:MCY)

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