Mercury General Co. (NYSE:MCY) has been assigned a consensus broker rating score of 3.50 (Sell) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a sell recommendation and one has issued a hold recommendation on the company.
Analysts have set a 1-year consensus price target of $53.00 for the company and are anticipating that the company will post $0.90 earnings per share for the current quarter, according to Zacks. Zacks has also given Mercury General an industry rank of 67 out of 256 based on the ratings given to its competitors.
MCY has been the topic of several analyst reports. TheStreet raised Mercury General from a “c” rating to a “b” rating in a report on Tuesday, April 30th. ValuEngine cut Mercury General from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research cut Mercury General from a “buy” rating to a “hold” rating in a research report on Friday, July 26th.
In other Mercury General news, VP Charles Toney sold 600 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $60.45, for a total transaction of $36,270.00. Following the transaction, the vice president now directly owns 11,803 shares in the company, valued at approximately $713,491.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 34.20% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCY. Westwood Holdings Group Inc. increased its stake in Mercury General by 27.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 974,440 shares of the insurance provider’s stock worth $48,790,000 after buying an additional 208,274 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Mercury General in the first quarter valued at $43,981,000. Norges Bank acquired a new position in Mercury General in the fourth quarter valued at $31,116,000. MERIAN GLOBAL INVESTORS UK Ltd boosted its stake in Mercury General by 18.4% in the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 489,454 shares of the insurance provider’s stock valued at $24,506,000 after acquiring an additional 76,100 shares in the last quarter. Finally, GWM Advisors LLC boosted its stake in Mercury General by 3,615.5% in the first quarter. GWM Advisors LLC now owns 203,052 shares of the insurance provider’s stock valued at $941,000 after acquiring an additional 197,587 shares in the last quarter. Institutional investors own 44.05% of the company’s stock.
NYSE MCY traded up $0.15 during trading hours on Friday, hitting $54.79. The company had a trading volume of 8,655 shares, compared to its average volume of 288,130. Mercury General has a 52 week low of $47.96 and a 52 week high of $65.22. The company’s 50 day moving average is $61.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 0.47 and a beta of 0.25.
Mercury General (NYSE:MCY) last issued its quarterly earnings results on Monday, July 29th. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.17). Mercury General had a net margin of 5.28% and a return on equity of 7.97%. The business had revenue of $936.10 million for the quarter, compared to the consensus estimate of $922.34 million. During the same quarter last year, the business posted $0.88 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. Sell-side analysts forecast that Mercury General will post 3.19 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a $0.6275 dividend. This represents a $2.51 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Wednesday, September 11th. Mercury General’s payout ratio is 139.44%.
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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