Mercury General (NYSE:MCY) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS


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Mercury General (NYSE:MCY) announced its quarterly earnings data on Tuesday. The insurance provider reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.09, MarketWatch Earnings reports. Mercury General had a net margin of 6.47% and a return on equity of 13.57%. During the same quarter in the prior year, the business posted $1.07 EPS.

Shares of NYSE:MCY traded up $1.05 on Tuesday, reaching $64.64. The company’s stock had a trading volume of 208,658 shares, compared to its average volume of 283,453. Mercury General has a 52-week low of $34.12 and a 52-week high of $66.75. The company has a market cap of $3.58 billion, a P/E ratio of 14.93 and a beta of 0.38. The company has a 50-day simple moving average of $62.68 and a 200 day simple moving average of $53.70. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.36 and a current ratio of 0.36.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 17th were paid a $0.632 dividend. The ex-dividend date of this dividend was Tuesday, March 16th. This represents a $2.53 dividend on an annualized basis and a dividend yield of 3.91%. Mercury General’s payout ratio is currently 97.31%.

MCY has been the topic of a number of research reports. Raymond James reiterated a “sell” rating on shares of Mercury General in a report on Monday, February 22nd. Zacks Investment Research upgraded shares of Mercury General from a “sell” rating to a “hold” rating in a report on Wednesday, February 10th.

In other Mercury General news, Chairman George Joseph sold 11,000 shares of Mercury General stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $65.82, for a total value of $724,020.00. Following the completion of the transaction, the chairman now directly owns 19,601,934 shares of the company’s stock, valued at approximately $1,290,199,295.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 34.30% of the company’s stock.

A hedge fund recently bought a new stake in Mercury General stock. OLD Mission Capital LLC purchased a new position in shares of Mercury General Co. (NYSE:MCY) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,159 shares of the insurance provider’s stock, valued at approximately $296,000. Hedge funds and other institutional investors own 38.62% of the company’s stock.

About Mercury General

Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. It also writes homeowners, commercial automobile, commercial property, mechanical protection, and umbrella insurance. The company's automobile insurance products include collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners' insurance products comprise dwelling, liability, personal property, fire, and other hazards.

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Earnings History for Mercury General (NYSE:MCY)

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