Mercury General (MCY) Sets New 12-Month Low at $51.74

Mercury General Co. (NYSE:MCY)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $51.74 and last traded at $52.08, with a volume of 208400 shares trading hands. The stock had previously closed at $53.44.

Several brokerages have recently weighed in on MCY. Zacks Investment Research lowered shares of Mercury General from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet lowered shares of Mercury General from a “b” rating to a “c+” rating in a research report on Monday, October 30th.

The firm has a market cap of $2,867.86, a PE ratio of 29.15, a price-to-earnings-growth ratio of 0.75 and a beta of 0.51. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.21.

Mercury General (NYSE:MCY) last issued its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.18. Mercury General had a net margin of 3.00% and a return on equity of 6.47%. The company had revenue of $827.42 million for the quarter, compared to analyst estimates of $835.00 million. During the same period in the prior year, the firm earned $0.67 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. research analysts forecast that Mercury General Co. will post 1.88 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 14th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 4.79%. This is a positive change from Mercury General’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Wednesday, December 13th. Mercury General’s dividend payout ratio (DPR) is currently 139.67%.

A number of large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its position in Mercury General by 0.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,255 shares of the insurance provider’s stock worth $338,000 after acquiring an additional 26 shares during the period. Pacer Advisors Inc. increased its position in Mercury General by 2.9% during the second quarter. Pacer Advisors Inc. now owns 3,308 shares of the insurance provider’s stock worth $179,000 after acquiring an additional 92 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Mercury General by 5.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,632 shares of the insurance provider’s stock worth $250,000 after acquiring an additional 236 shares during the period. Comerica Bank increased its position in Mercury General by 0.9% during the second quarter. Comerica Bank now owns 28,115 shares of the insurance provider’s stock worth $1,541,000 after acquiring an additional 252 shares during the period. Finally, Thrivent Financial For Lutherans increased its position in Mercury General by 7.3% during the second quarter. Thrivent Financial For Lutherans now owns 7,360 shares of the insurance provider’s stock worth $397,000 after acquiring an additional 500 shares during the period. 46.04% of the stock is currently owned by institutional investors and hedge funds.

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Mercury General Company Profile

Mercury General Corporation is an insurance holding company. As of December 31, 2016, the Company and its subsidiaries were engaged in writing personal automobile insurance through 14 insurance subsidiaries in 11 states, principally California. Its segments include Property and Casualty Lines, and Other Lines.

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