Mercury General Corp. Downgraded by Keefe, Bruyette & Woods (MCY)
In other Mercury General Corp. news, SVP Allan Lubitz unloaded 3,750 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $50.85, for a total value of $190,687.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Mercury General Corp. (NYSE:MCY) opened at 52.46 on Monday. Mercury General Corp. has a 1-year low of $41.70 and a 1-year high of $52.58. The stock has a 50-day moving average of $48. and a 200-day moving average of $46.70. The company has a market cap of $2.884 billion and a price-to-earnings ratio of 12.92.
Mercury General Corp. (NYSE:MCY) last issued its quarterly earnings data 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 previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts expect that Mercury General Corp. will post $2.80 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 25th. Stockholders 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 4.69%. The ex-dividend date is Tuesday, September 9th.
Mercury General Corporation (NYSE:MCY) is an insurance holding company.
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