Mercury General Co. (NYSE:MCY) has been given an average broker rating score of 3.50 (Sell) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a sell recommendation and one has given a hold recommendation to the company.
Brokerages have set a twelve-month consensus price objective of $42.00 for the company and are predicting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also assigned Mercury General an industry rank of 99 out of 255 based on the ratings given to related companies.
Separately, Zacks Investment Research cut shares of Mercury General from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 10th.
Mercury General opened at $45.26 on Tuesday, according to Marketbeat.com. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.22. The stock has a market cap of $2.47 billion, a PE ratio of 27.60, a P/E/G ratio of 0.65 and a beta of 0.46. Mercury General has a 52-week low of $41.40 and a 52-week high of $61.51.
Mercury General (NYSE:MCY) last issued its quarterly earnings data on Monday, April 30th. The insurance provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.41). Mercury General had a return on equity of 4.77% and a net margin of 2.25%. The business had revenue of $841.92 million during the quarter, compared to analyst estimates of $843.11 million. During the same quarter last year, the firm earned $0.20 EPS. Mercury General’s revenue for the quarter was up 6.1% compared to the same quarter last year. equities research analysts expect that Mercury General will post 1.98 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 28th. Shareholders of record on Thursday, June 14th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend was Wednesday, June 13th. Mercury General’s dividend payout ratio (DPR) is 152.44%.
A number of institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN raised its position in shares of Mercury General by 23.5% in the 4th quarter. Wells Fargo & Company MN now owns 334,738 shares of the insurance provider’s stock valued at $17,889,000 after buying an additional 63,608 shares in the last quarter. LPL Financial LLC raised its position in shares of Mercury General by 78.7% in the 4th quarter. LPL Financial LLC now owns 10,858 shares of the insurance provider’s stock valued at $580,000 after buying an additional 4,783 shares in the last quarter. Jane Street Group LLC raised its position in shares of Mercury General by 157.9% in the 4th quarter. Jane Street Group LLC now owns 26,861 shares of the insurance provider’s stock valued at $1,435,000 after buying an additional 16,445 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Mercury General by 3.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 260,975 shares of the insurance provider’s stock valued at $13,947,000 after buying an additional 7,811 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Mercury General in the 4th quarter valued at approximately $1,235,000. Institutional investors and hedge funds own 44.35% 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. 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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