Shares of Mercury General Corp. (NYSE:MCY) have been given an average broker rating score of 3.33 (Hold) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a sell rating and two have given a hold rating to the company.
Analysts have set a 1 year consensus price target of $48.50 for the company and are forecasting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also assigned Mercury General Corp. an industry rank of 163 out of 265 based on the ratings given to its competitors.
Several research analysts recently weighed in on MCY shares. Zacks Investment Research raised Mercury General Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 5th. Compass Point dropped their target price on Mercury General Corp. from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 2nd.
Mercury General Corp. (NYSE:MCY) traded up 0.582% during midday trading on Friday, reaching $59.645. The company’s stock had a trading volume of 33,131 shares. Mercury General Corp. has a 52 week low of $42.97 and a 52 week high of $59.78. The stock has a 50 day moving average of $55.01 and a 200 day moving average of $53.73. The firm has a market capitalization of $3.30 billion, a PE ratio of 26.989 and a beta of 0.41.
Mercury General Corp. (NYSE:MCY) last posted its quarterly earnings results on Monday, October 31st. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $808.20 million for the quarter, compared to analyst estimates of $785.88 million. Mercury General Corp. had a return on equity of 5.07% and a net margin of 3.74%. Mercury General Corp.’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share. On average, equities research analysts predict that Mercury General Corp. will post $1.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be given a $0.6225 dividend. This is a positive change from Mercury General Corp.’s previous quarterly dividend of $0.62. This represents a $2.49 annualized dividend and a yield of 4.20%. The ex-dividend date is Tuesday, December 13th. Mercury General Corp.’s dividend payout ratio is presently 112.22%.
In other Mercury General Corp. news, Director Mike Curtius sold 1,500 shares of the company’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $56.29, for a total value of $84,435.00. Following the transaction, the director now directly owns 18,584 shares of the company’s stock, valued at approximately $1,046,093.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 34.40% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in MCY. TIAA CREF Investment Management LLC increased its stake in Mercury General Corp. by 4.9% in the first quarter. TIAA CREF Investment Management LLC now owns 55,418 shares of the company’s stock valued at $3,076,000 after buying an additional 2,607 shares during the period. Renaissance Technologies LLC increased its stake in Mercury General Corp. by 151.7% in the first quarter. Renaissance Technologies LLC now owns 230,700 shares of the company’s stock valued at $12,804,000 after buying an additional 139,051 shares during the period. A.R.T. Advisors LLC increased its stake in Mercury General Corp. by 235.4% in the first quarter. A.R.T. Advisors LLC now owns 18,949 shares of the company’s stock valued at $1,051,000 after buying an additional 13,300 shares during the period. Barclays PLC increased its stake in Mercury General Corp. by 392.5% in the first quarter. Barclays PLC now owns 25,143 shares of the company’s stock valued at $1,383,000 after buying an additional 20,038 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in Mercury General Corp. during the first quarter valued at about $216,000. Institutional investors own 43.37% of the company’s stock.
About Mercury General Corp.
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.