Roundview Capital LLC held its stake in Mercury General Corporation (NYSE:MCY) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,813 shares of the insurance provider’s stock at the end of the second quarter. Roundview Capital LLC’s holdings in Mercury General Corporation were worth $260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. LS Investment Advisors LLC increased its holdings in shares of Mercury General Corporation by 17.5% in the 2nd quarter. LS Investment Advisors LLC now owns 2,922 shares of the insurance provider’s stock valued at $158,000 after purchasing an additional 435 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Mercury General Corporation in the 2nd quarter valued at about $166,000. Pacer Advisors Inc. increased its holdings in shares of Mercury General Corporation by 2.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,308 shares of the insurance provider’s stock valued at $179,000 after purchasing an additional 92 shares during the period. Riverhead Capital Management LLC increased its holdings in shares of Mercury General Corporation by 57.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,630 shares of the insurance provider’s stock valued at $196,000 after purchasing an additional 1,330 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Mercury General Corporation by 9.0% in the 2nd quarter. Bank of Montreal Can now owns 4,220 shares of the insurance provider’s stock valued at $228,000 after purchasing an additional 347 shares during the period. Institutional investors own 46.98% of the company’s stock.

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Mercury General Corporation (NYSE:MCY) last released its earnings results 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 analysts’ expectations of $815.85 million. Mercury General Corporation had a return on equity of 6.66% and a net margin of 2.45%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be paid a $0.6225 dividend. This represents a $2.49 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Wednesday, September 13th. Mercury General Corporation’s payout ratio is 172.92%.

In other Mercury General Corporation news, CEO Gabriel Tirador sold 2,355 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 36,239 shares in the company, valued at approximately $2,138,101. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 34.30% of the company’s stock.

A number of research firms recently commented on MCY. BidaskClub upgraded Mercury General Corporation from a “sell” rating to a “hold” rating in a 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 price objective on the stock in a report on Wednesday, August 2nd.

About Mercury General Corporation

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.

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

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