Mercury General Co. (NYSE:MCY)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $61.24 and traded as high as $63.88. Mercury General shares last traded at $63.39, with a volume of 2,369 shares trading hands.
MCY has been the topic of several recent analyst reports. ValuEngine raised USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. TheStreet lowered UDR from a “b” rating to a “c” rating in a research report on Tuesday, April 30th. Finally, Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th.
The firm has a market capitalization of $3.55 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 0.48 and a beta of 0.24. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22. The stock’s 50-day simple moving average is $61.24.
Mercury General (NYSE:MCY) last issued its earnings results on Monday, April 29th. The insurance provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.10. Mercury General had a return on equity of 8.50% and a net margin of 4.78%. The firm had revenue of $919.50 million for the quarter, compared to the consensus estimate of $917.25 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts expect that Mercury General Co. will post 3.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were paid a $0.6275 dividend. The ex-dividend date was Wednesday, June 12th. This represents a $2.51 dividend on an annualized basis and a yield of 3.96%. This is an increase from Mercury General’s previous quarterly dividend of $0.63. Mercury General’s payout ratio is 139.44%.
In other Mercury General news, VP Charles Toney sold 600 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $60.45, for a total value of $36,270.00. Following the transaction, the vice president now owns 11,803 shares in the company, valued at $713,491.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 34.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of MCY. LPL Financial LLC boosted its holdings in shares of Mercury General by 12.0% in the 4th quarter. LPL Financial LLC now owns 14,155 shares of the insurance provider’s stock valued at $732,000 after buying an additional 1,513 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Mercury General by 1.6% in the 4th quarter. BlackRock Inc. now owns 2,524,258 shares of the insurance provider’s stock valued at $130,528,000 after buying an additional 39,641 shares in the last quarter. Advisor Group Inc. boosted its holdings in shares of Mercury General by 28.3% in the 4th 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 in the last quarter. Citigroup Inc. boosted its holdings in shares of Mercury General by 331.4% in the 4th quarter. Citigroup Inc. now owns 9,509 shares of the insurance provider’s stock valued at $492,000 after buying an additional 7,305 shares in the last quarter. Finally, United Services Automobile Association boosted its holdings in shares of Mercury General by 58.8% in the 4th quarter. United Services Automobile Association now owns 6,697 shares of the insurance provider’s stock valued at $346,000 after buying an additional 2,481 shares in the last quarter. Hedge funds and other institutional investors own 43.64% of the company’s stock.
About Mercury General (NYSE:MCY)
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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