Mercury General (NYSE:MCY) Sets New 52-Week High at $62.36

Mercury General Co. (NYSE:MCY) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $62.36 and last traded at $62.36, with a volume of 1534 shares trading hands. The stock had previously closed at $61.31.

A number of equities analysts have recently issued reports on MCY shares. TheStreet upgraded shares of Mercury General from a “c” rating to a “b” rating in a research note on Tuesday, April 30th. ValuEngine downgraded shares of Mercury General from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Zacks Investment Research downgraded shares of Mercury General from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th.

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 firm’s 50 day moving average is $58.52. The firm has a market cap of $3.46 billion, a PE ratio of 34.72, a P/E/G ratio of 0.46 and a beta of 0.18.

Mercury General (NYSE:MCY) last released its quarterly earnings data on Monday, April 29th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.10. Mercury General had a net margin of 4.78% and a return on equity of 8.50%. The firm had revenue of $919.50 million for the quarter, compared to the consensus estimate of $917.25 million. During the same period last year, the firm earned $0.07 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities analysts forecast that Mercury General Co. will post 3.55 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were given a dividend of $0.6275 per share. This is a boost from Mercury General’s previous quarterly dividend of $0.63. The ex-dividend date was Wednesday, June 12th. This represents a $2.51 dividend on an annualized basis and a yield of 4.02%. Mercury General’s dividend payout ratio is presently 139.44%.

In related news, VP Charles Toney sold 600 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $60.45, for a total transaction of $36,270.00. Following the completion of the sale, the vice president now owns 11,803 shares of the company’s stock, valued at $713,491.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 34.20% of the company’s stock.

A number of large investors have recently bought and sold shares of MCY. Vaughan Nelson Investment Management L.P. purchased a new stake in Mercury General during the first quarter valued at approximately $43,981,000. Norges Bank purchased a new stake in Mercury General during the fourth quarter valued at approximately $31,116,000. Westwood Holdings Group Inc. lifted its position in Mercury General by 27.2% during the first quarter. Westwood Holdings Group Inc. now owns 974,440 shares of the insurance provider’s stock valued at $48,790,000 after acquiring an additional 208,274 shares during the last quarter. GWM Advisors LLC lifted its position in Mercury General by 3,615.5% during the first quarter. GWM Advisors LLC now owns 203,052 shares of the insurance provider’s stock valued at $941,000 after acquiring an additional 197,587 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Mercury General by 146.7% during the fourth quarter. Deutsche Bank AG now owns 200,756 shares of the insurance provider’s stock valued at $10,378,000 after acquiring an additional 119,369 shares during the last quarter. 43.62% of the stock is owned by institutional investors.

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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