Teacher Retirement System of Texas Has $1.09 Million Position in Mercury General Corporation (NYSE:MCY)

Teacher Retirement System of Texas lessened its position in Mercury General Corporation (NYSE:MCY - Free Report) by 77.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,576 shares of the insurance provider's stock after selling 68,890 shares during the period. Teacher Retirement System of Texas' holdings in Mercury General were worth $1,094,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MCY. Sterling Capital Management LLC increased its stake in Mercury General by 772.9% in the fourth quarter. Sterling Capital Management LLC now owns 742 shares of the insurance provider's stock valued at $49,000 after purchasing an additional 657 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of Mercury General during the fourth quarter worth $60,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Mercury General during the fourth quarter worth $68,000. Federated Hermes Inc. increased its position in shares of Mercury General by 23.5% during the fourth quarter. Federated Hermes Inc. now owns 2,453 shares of the insurance provider's stock worth $163,000 after acquiring an additional 466 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Mercury General during the fourth quarter worth $173,000. Institutional investors own 42.39% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Mercury General from a "hold" rating to a "buy" rating in a research report on Monday, May 12th.

Mercury General Stock Up 1.4%

Shares of MCY stock traded up $0.95 during trading hours on Thursday, hitting $68.02. 270,248 shares of the company were exchanged, compared to its average volume of 422,271. The business has a 50 day moving average of $64.25 and a two-hundred day moving average of $57.70. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. Mercury General Corporation has a 52 week low of $44.19 and a 52 week high of $80.72. The company has a market capitalization of $3.77 billion, a PE ratio of 13.18 and a beta of 0.96.

Mercury General (NYSE:MCY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The insurance provider reported ($2.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.00) by $1.71. Mercury General had a net margin of 5.11% and a return on equity of 12.52%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.36 billion. Analysts anticipate that Mercury General Corporation will post -0.5 earnings per share for the current fiscal year.

Mercury General Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Thursday, June 12th. Mercury General's payout ratio is 24.61%.

Mercury General Profile

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.