Mercury General Corporation (NYSE:MCY) CEO Gabriel Tirador sold 2,355 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $59.00, for a total value of $138,945.00. Following the completion of the sale, the chief executive officer now directly owns 36,239 shares of the company’s stock, valued at approximately $2,138,101. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mercury General Corporation (MCY) traded down 0.34% during trading on Friday, hitting $58.00. The stock had a trading volume of 690,253 shares. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 40.56 and a beta of 0.50. The stock has a 50 day moving average price of $56.19 and a 200 day moving average price of $57.40. Mercury General Corporation has a 12-month low of $50.32 and a 12-month high of $64.52.

Mercury General Corporation (NYSE:MCY) last released its quarterly earnings data on Monday, July 31st. The insurance provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.18. Mercury General Corporation had a net margin of 2.45% and a return on equity of 6.66%. The firm had revenue of $852.80 million during the quarter, compared to analysts’ expectations of $815.85 million. During the same period in the previous year, the company earned $0.88 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts forecast that Mercury General Corporation will post $1.97 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be issued a dividend of $0.6225 per share. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $2.49 annualized dividend and a dividend yield of 4.29%. Mercury General Corporation’s payout ratio is 172.92%.

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MCY has been the subject of a number of research reports. BidaskClub raised Mercury General Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Mercury General Corporation from a “sell” rating to a “hold” rating and set a $68.00 target price on the stock in a report on Wednesday, August 2nd.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tyers Asset Management LLC boosted its position in Mercury General Corporation by 6.3% in the first quarter. Tyers Asset Management LLC now owns 1,904 shares of the insurance provider’s stock valued at $116,000 after buying an additional 112 shares during the last quarter. Flinton Capital Management LLC raised its stake in shares of Mercury General Corporation by 6.3% in the first quarter. Flinton Capital Management LLC now owns 2,312 shares of the insurance provider’s stock valued at $141,000 after buying an additional 136 shares during the period. LS Investment Advisors LLC raised its stake in shares of Mercury General Corporation by 17.5% in the second quarter. LS Investment Advisors LLC now owns 2,922 shares of the insurance provider’s stock valued at $158,000 after buying an additional 435 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Mercury General Corporation during the second quarter valued at about $166,000. Finally, Pacer Advisors Inc. raised its stake in shares of Mercury General Corporation by 2.9% in the second quarter. Pacer Advisors Inc. now owns 3,308 shares of the insurance provider’s stock valued at $179,000 after buying an additional 92 shares during the period. 46.47% of the stock is owned by hedge funds and other institutional investors.

Mercury General Corporation Company 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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