Mercury General Co. (MCY) to Issue Quarterly Dividend of $0.63 on December 26th

Mercury General Co. (NYSE:MCY) declared a quarterly dividend on Monday, October 28th, Zacks reports. Stockholders of record on Thursday, December 12th will be paid a dividend of 0.63 per share by the insurance provider on Thursday, December 26th. This represents a $2.52 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Wednesday, December 11th. This is a boost from Mercury General’s previous quarterly dividend of $0.63.

Shares of MCY stock opened at $49.45 on Monday. The stock has a 50 day moving average of $49.89 and a 200 day moving average of $55.62. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.74 billion, a P/E ratio of 27.47, a P/E/G ratio of 0.47 and a beta of 0.21. Mercury General has a twelve month low of $46.69 and a twelve month high of $65.22.

Mercury General (NYSE:MCY) last announced its quarterly earnings results on Monday, October 28th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.22). The company had revenue of $983.10 million during the quarter, compared to analyst estimates of $968.71 million. Mercury General had a net margin of 5.43% and a return on equity of 6.81%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.11 earnings per share. On average, research analysts predict that Mercury General will post 2.8 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods cut shares of Mercury General from an “outperform” rating to a “market perform” rating and set a $50.00 target price for the company. in a research note on Monday, October 28th. Zacks Investment Research lowered shares of Mercury General from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 30th.

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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Dividend History for Mercury General (NYSE:MCY)

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