Mercury General Corporation (NYSE:MCY) CEO Gabriel Tirador sold 2,355 shares of Mercury General Corporation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $59.00, for a total transaction of $138,945.00. Following the completion of the sale, the chief executive officer now directly owns 36,239 shares in the company, valued at approximately $2,138,101. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of Mercury General Corporation (NYSE:MCY) traded up 0.07% during midday trading on Monday, reaching $59.46. 101,378 shares of the company’s stock were exchanged. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 41.58 and a beta of 0.50. The firm has a 50 day moving average of $54.85 and a 200-day moving average of $57.56. Mercury General Corporation has a one year low of $50.32 and a one year high of $64.52.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be given 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 4.19%. Mercury General Corporation’s payout ratio is 172.92%.

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MCY has been the topic of a number of research reports. BidaskClub cut shares of Mercury General Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Zacks Investment Research raised shares of Mercury General Corporation from a “sell” rating to a “hold” rating and set a $68.00 price target on the stock in a report on Wednesday, August 2nd.

Several hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of Mercury General Corporation by 1.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,229 shares of the insurance provider’s stock valued at $380,000 after buying an additional 70 shares during the last quarter. US Bancorp DE increased its stake in shares of Mercury General Corporation by 1.4% in the second quarter. US Bancorp DE now owns 5,850 shares of the insurance provider’s stock valued at $316,000 after buying an additional 81 shares during the last quarter. State Treasurer State of Michigan increased its stake in shares of Mercury General Corporation by 0.7% in the first quarter. State Treasurer State of Michigan now owns 14,800 shares of the insurance provider’s stock valued at $903,000 after buying an additional 100 shares during the last quarter. Tyers Asset Management LLC increased its stake in shares of 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. Finally, Amalgamated Bank increased its stake in shares of Mercury General Corporation by 2.8% in the first quarter. Amalgamated Bank now owns 4,451 shares of the insurance provider’s stock valued at $271,000 after buying an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 46.42% of the company’s stock.

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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