Zurcher Kantonalbank Zurich Cantonalbank Sells 1,037 Shares of Mercury General Co. (NYSE:MCY)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Mercury General Co. (NYSE:MCY) by 19.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,414 shares of the insurance provider’s stock after selling 1,037 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mercury General were worth $165,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC bought a new stake in shares of Mercury General during the 3rd quarter valued at $25,000. Gradient Investments LLC bought a new stake in Mercury General during the third quarter valued at about $38,000. Global Retirement Partners LLC raised its stake in shares of Mercury General by 5,212.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,700 shares of the insurance provider’s stock worth $67,000 after buying an additional 1,668 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Mercury General by 5.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 7,487 shares of the insurance provider’s stock valued at $210,000 after buying an additional 416 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Mercury General during the 4th quarter valued at approximately $210,000. Hedge funds and other institutional investors own 42.39% of the company’s stock.

Mercury General Price Performance

NYSE:MCY opened at $56.86 on Thursday. The stock has a market cap of $3.15 billion, a PE ratio of 14.62 and a beta of 0.77. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is $51.21 and its two-hundred day simple moving average is $43.22. Mercury General Co. has a 52 week low of $27.27 and a 52 week high of $57.12.

Mercury General (NYSE:MCY) last posted its quarterly earnings results on Tuesday, February 13th. The insurance provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $1.10. Mercury General had a return on equity of 9.85% and a net margin of 4.48%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. As a group, analysts forecast that Mercury General Co. will post 2.9 EPS for the current fiscal year.

Mercury General Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be paid a $0.3175 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.27 annualized dividend and a yield of 2.23%. This is a boost from Mercury General’s previous quarterly dividend of $0.32. Mercury General’s payout ratio is presently 32.65%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Mercury General from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th.

About Mercury General

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.