Mercury General Co. (NYSE:MCY) has been assigned an average broker rating score of 3.50 (Sell) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a sell rating and one has given a hold rating to the company.
Brokers have set a 1 year consensus target price of $49.00 for the company and are predicting that the company will post $0.91 EPS for the current quarter, according to Zacks. Zacks has also assigned Mercury General an industry rank of 48 out of 256 based on the ratings given to related companies.
A number of brokerages recently issued reports on MCY. ValuEngine upgraded shares of Mercury General from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. TheStreet upgraded shares of Mercury General from a “c” rating to a “b” rating in a report on Tuesday, April 30th. Finally, Zacks Investment Research upgraded shares of Mercury General from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 1st.
NYSE MCY traded up $0.89 during trading on Tuesday, reaching $61.39. 254,800 shares of the stock traded hands, compared to its average volume of 365,629. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 0.45 and a beta of 0.17. The firm’s 50-day moving average is $58.18. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.22. Mercury General has a fifty-two week low of $43.46 and a fifty-two week high of $61.83.
Mercury General (NYSE:MCY) last issued its quarterly earnings data on Monday, April 29th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.10. The firm had revenue of $919.50 million during the quarter, compared to analysts’ expectations of $917.25 million. Mercury General had a net margin of 4.78% and a return on equity of 8.50%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. As a group, equities analysts anticipate that Mercury General will post 3.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be issued a dividend of $0.6275 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $2.51 dividend on an annualized basis and a yield of 4.09%. This is a boost from Mercury General’s previous quarterly dividend of $0.63. Mercury General’s payout ratio is currently 139.44%.
In other news, VP Charles Toney sold 600 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $60.45, for a total value of $36,270.00. Following the completion of the transaction, the vice president now owns 11,803 shares in the company, valued at $713,491.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 34.20% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in shares of Mercury General in the first quarter valued at approximately $59,000. Advisor Group Inc. boosted its holdings in shares of Mercury General by 28.3% in the fourth quarter. Advisor Group Inc. now owns 1,594 shares of the insurance provider’s stock valued at $83,000 after buying an additional 352 shares during the period. Cambria Investment Management L.P. acquired a new position in shares of Mercury General in the first quarter valued at approximately $134,000. Flagship Harbor Advisors LLC boosted its holdings in shares of Mercury General by 25.7% in the first quarter. Flagship Harbor Advisors LLC now owns 3,055 shares of the insurance provider’s stock valued at $152,000 after buying an additional 624 shares during the period. Finally, Ibex Investors LLC acquired a new position in shares of Mercury General in the fourth quarter valued at approximately $213,000. Institutional investors own 43.62% of the company’s stock.
Mercury General Company 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, fire, and umbrella insurance. Its automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners' insurance products cover dwelling, liability, personal property, fire, and other hazards.
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