Mercury General Corp. VP Robert Houlihan Unloads 11,250 Shares (MCY)
Mercury General Corp. (NYSE:MCY) VP Robert Houlihan sold 11,250 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $50.65, for a total transaction of $569,812.50. Following the sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $101,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Mercury General Corp. (NYSE:MCY) traded down 0.39% on Thursday, hitting $50.375. 73,046 shares of the company’s stock traded hands. Mercury General Corp. has a 1-year low of $41.70 and a 1-year high of $51.00. The stock’s 50-day moving average is $47.61 and its 200-day moving average is $46.4. The company has a market cap of $2.770 billion and a P/E ratio of 12.49.
Mercury General Corp. (NYSE:MCY) last announced its earnings results on Monday, July 28th. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.68 by $0.15. The company had revenue of $698.80 million for the quarter, compared to the consensus estimate of $733.20 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, analysts predict that Mercury General Corp. will post $2.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 25th. Investors of record on Thursday, September 11th will be paid a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Tuesday, September 9th.
Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Mercury General Corp. from $44.00 to $46.00 in a research note on Tuesday, July 29th.
Mercury General Corporation (NYSE:MCY) is an insurance holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.