According to Zacks, “Mercury General Corp. is engaged primarily in writing all risk classifications of automobile insurance in a number of states, principally California. The company offers automobile policyholders the following types of coverage: bodily injury liability, underinsured and uninsured motorist, property damage liability, comprehensive, collision and other hazards specified in the policy. “
Separately, Compass Point dropped their price objective on shares of Mercury General Corp. from $55.00 to $51.00 and set a neutral rating on the stock in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $51.33.
Shares of Mercury General Corp. (NYSE:MCY) opened at 54.81 on Wednesday. The company’s 50 day moving average is $54.17 and its 200 day moving average is $53.43. Mercury General Corp. has a one year low of $42.97 and a one year high of $56.14. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 27.28 and a beta of 0.53.
Mercury General Corp. (NYSE:MCY) last released its quarterly earnings data on Monday, August 1st. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.24. The business had revenue of $858 million for the quarter, compared to analysts’ expectations of $811.11 million. Mercury General Corp. had a net margin of 3.44% and a return on equity of 4.81%. Mercury General Corp.’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. Equities research analysts predict that Mercury General Corp. will post $1.53 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date was Tuesday, September 13th. Mercury General Corp.’s payout ratio is 124.00%.
Several large investors have recently made changes to their positions in MCY. UBS Group AG increased its stake in shares of Mercury General Corp. by 29.2% in the first quarter. UBS Group AG now owns 39,362 shares of the company’s stock worth $2,184,000 after buying an additional 8,887 shares during the last quarter. State Street Corp increased its stake in shares of Mercury General Corp. by 7.2% in the first quarter. State Street Corp now owns 2,355,241 shares of the company’s stock worth $130,714,000 after buying an additional 158,376 shares in the last quarter. National Planning Corp increased its stake in shares of Mercury General Corp. by 9.7% in the first quarter. National Planning Corp now owns 5,615 shares of the company’s stock worth $292,000 after buying an additional 495 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Mercury General Corp. by 151.7% in the first quarter. Renaissance Technologies LLC now owns 230,700 shares of the company’s stock worth $12,804,000 after buying an additional 139,051 shares in the last quarter. Finally, TD Asset Management Inc. increased its stake in shares of Mercury General Corp. by 23.7% in the second quarter. TD Asset Management Inc. now owns 27,145 shares of the company’s stock worth $1,443,000 after buying an additional 5,200 shares in the last quarter. 43.55% of the stock is currently owned by hedge funds and other institutional investors.
Mercury General Corp. Company Profile
Mercury General Corporation is an insurance holding company. The Company is engaged in writing personal automobile insurance through approximately 10 insurance subsidiaries in over 10 states. The Company operates through Property and Casualty business segment. The Company also writes homeowners, commercial automobile, commercial property, mechanical breakdown and umbrella insurance.
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