Mercury General Corporation (NYSE:MCY) has earned an average broker rating score of 3.50 (Sell) from the two analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a sell rating and one has issued a hold rating on the company.

Brokers have set a 12 month consensus price target of $52.00 for the company and are anticipating that the company will post $0.39 EPS for the current quarter, according to Zacks. Zacks has also given Mercury General Corporation an industry rank of 218 out of 265 based on the ratings given to its competitors.

MCY has been the subject of several analyst reports. Zacks Investment Research raised shares of Mercury General Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. TheStreet lowered shares of Mercury General Corporation from a “b” rating to a “c+” rating in a research report on Monday, October 30th. Finally, BidaskClub raised shares of Mercury General Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd.

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Several institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Mercury General Corporation by 17.2% in the 2nd quarter. State Street Corp now owns 2,877,538 shares of the insurance provider’s stock valued at $155,388,000 after purchasing an additional 423,115 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Mercury General Corporation by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,484,739 shares of the insurance provider’s stock valued at $134,175,000 after purchasing an additional 18,986 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Mercury General Corporation by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,299,375 shares of the insurance provider’s stock valued at $73,662,000 after purchasing an additional 26,723 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Mercury General Corporation by 9.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 598,608 shares of the insurance provider’s stock valued at $32,324,000 after purchasing an additional 49,817 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Mercury General Corporation by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 467,774 shares of the insurance provider’s stock valued at $26,518,000 after purchasing an additional 3,276 shares during the last quarter. 46.92% of the stock is owned by hedge funds and other institutional investors.

Shares of Mercury General Corporation (NYSE MCY) opened at $55.00 on Thursday. The company has a market cap of $3,064.84, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.12 and a beta of 0.53. Mercury General Corporation has a 1 year low of $52.52 and a 1 year high of $64.52. 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 Corporation (NYSE:MCY) last released its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.18. The business had revenue of $827.42 million during the quarter, compared to analyst estimates of $835.00 million. Mercury General Corporation had a net margin of 3.00% and a return on equity of 6.47%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 earnings per share. equities research analysts predict that Mercury General Corporation will post 1.88 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 4.55%. This is a positive change from Mercury General Corporation’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, December 13th. Mercury General Corporation’s dividend payout ratio is presently 139.11%.

Mercury General Corporation 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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