Candriam Luxembourg S.C.A. Invests $454,000 in Mercury General Co. (MCY) Stock
Candriam Luxembourg S.C.A. purchased a new stake in shares of Mercury General Co. (NYSE:MCY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,000 shares of the insurance provider’s stock, valued at approximately $454,000.
A number of other hedge funds have also recently added to or reduced their stakes in MCY. State Street Corp grew its position in shares of Mercury General by 17.2% in the second quarter. State Street Corp now owns 2,877,538 shares of the insurance provider’s stock valued at $155,388,000 after purchasing an additional 423,115 shares during the period. Vanguard Group Inc. grew its position in shares of Mercury General by 0.8% in the second quarter. Vanguard Group Inc. now owns 2,484,739 shares of the insurance provider’s stock valued at $134,175,000 after purchasing an additional 18,986 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Mercury General by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,272,652 shares of the insurance provider’s stock valued at $68,725,000 after purchasing an additional 35,166 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Mercury General by 9.1% in the second quarter. Goldman Sachs Group Inc. now owns 598,608 shares of the insurance provider’s stock valued at $32,324,000 after purchasing an additional 49,817 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Mercury General by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 464,498 shares of the insurance provider’s stock valued at $25,083,000 after purchasing an additional 7,120 shares during the period. Institutional investors own 47.48% of the company’s stock.
Mercury General Co. (NYSE:MCY) opened at $55.04 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.46 and a quick ratio of 0.46. The firm has a market cap of $3,031.09, a PE ratio of 26.59, a PEG ratio of 1.10 and a beta of 0.53. Mercury General Co. has a 52 week low of $52.52 and a 52 week high of $64.52.
Mercury General (NYSE:MCY) last posted its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.18. The firm had revenue of $827.42 million for the quarter, compared to the consensus estimate of $835.00 million. Mercury General had a net margin of 3.00% and a return on equity of 6.47%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.67 earnings per share. research analysts anticipate that Mercury General Co. will post 1.88 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be paid a $0.625 dividend. This is an increase from Mercury General’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Wednesday, December 13th. Mercury General’s dividend payout ratio (DPR) is currently 139.11%.
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Several analysts have recently issued reports on MCY shares. Zacks Investment Research upgraded shares of Mercury General from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. TheStreet lowered shares of Mercury General from a “b” rating to a “c+” rating in a research report on Monday, October 30th. Finally, BidaskClub upgraded shares of Mercury General from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd.
About Mercury General
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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