Mercury General FY2027 EPS Increased by DOWLING & PARTN

Mercury General Corporation (NYSE:MCY) – Equities researchers at DOWLING & PARTN raised their FY2027 earnings per share estimates for shares of Mercury General in a research note issued on Friday, August 7th. DOWLING & PARTN analyst D. Lukpanov now forecasts that the insurance provider will post earnings of $10.25 per share for the year, up from their previous forecast of $9.50. The consensus estimate for Mercury General’s current full-year earnings is $11.88 per share. DOWLING & PARTN also issued estimates for Mercury General’s FY2028 earnings at $9.75 EPS.

Several other research analysts have also weighed in on the stock. Zacks Research downgraded shares of Mercury General from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Mercury General from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mercury General in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $100.00.

Mercury General Stock Performance

MCY stock opened at $104.99 on Wednesday. The firm has a 50 day simple moving average of $105.72 and a 200 day simple moving average of $97.29. Mercury General has a 52 week low of $71.87 and a 52 week high of $113.06. The stock has a market cap of $5.82 billion, a P/E ratio of 6.21 and a beta of 0.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.47 and a current ratio of 0.47.

Mercury General (NYSE:MCY) last issued its earnings results on Tuesday, August 4th. The insurance provider reported $3.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.99. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.52 billion. Mercury General had a return on equity of 31.98% and a net margin of 14.77%.

Mercury General Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a $0.3175 dividend. The ex-dividend date is Thursday, September 10th. This represents a $1.27 dividend on an annualized basis and a yield of 1.2%. Mercury General’s dividend payout ratio is currently 7.51%.

Hedge Funds Weigh In On Mercury General

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. acquired a new stake in Mercury General in the fourth quarter valued at approximately $25,000. Allworth Financial LP acquired a new position in shares of Mercury General during the 2nd quarter worth $35,000. Hilton Head Capital Partners LLC acquired a new position in shares of Mercury General during the 4th quarter worth $38,000. Mcguire Capital Advisors Inc. bought a new position in shares of Mercury General during the 4th quarter valued at $40,000. Finally, IFP Advisors Inc raised its holdings in shares of Mercury General by 79.4% during the 4th quarter. IFP Advisors Inc now owns 506 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 224 shares in the last quarter. Institutional investors own 42.39% of the company’s stock.

About Mercury General

Mercury General Corporation is a holding company headquartered in Los Angeles, California, that underwrites and markets property and casualty insurance products through its principal subsidiary, Mercury Insurance Company. Established in 1961, the company has built a reputation for offering a broad range of personal and commercial lines, with a focus on automobile coverage. Mercury General operates in key U.S. markets, deploying a mix of independent agents and direct distribution channels to serve policyholders.

The company’s product portfolio includes personal automobile insurance, homeowners and renters policies, as well as commercial automobile, business liability and umbrella insurance.