Shares of Mercury General Co. (NYSE:MCY) have been assigned 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 assigned a hold rating to the company.

Brokers have set a one year consensus target price of $52.00 for the company and are forecasting that the company will post $0.39 EPS for the current quarter, according to Zacks. Zacks has also given Mercury General an industry rank of 92 out of 265 based on the ratings given to its competitors.

A number of analysts have recently weighed in on MCY shares. Zacks Investment Research upgraded shares of Mercury General from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Wednesday, November 29th. TheStreet cut shares of Mercury General from a “b” rating to a “c+” rating in a research note on Monday, October 30th.

Shares of Mercury General (MCY) opened at $52.17 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.46 and a quick ratio of 0.46. The company has a market cap of $2,870.00, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 0.75 and a beta of 0.51. Mercury General has a 1 year low of $51.68 and a 1 year high of $64.52.

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, topping the Zacks’ 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 business had revenue of $827.42 million during the quarter, compared to analysts’ expectations of $835.00 million. During the same period in the previous year, the company earned $0.67 earnings per share. Mercury General’s revenue for the quarter was up 2.4% on a year-over-year basis. sell-side analysts predict that Mercury General will post 1.88 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 14th were paid a dividend of $0.625 per share. This is a boost from Mercury General’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Wednesday, December 13th. Mercury General’s dividend payout ratio is presently 139.66%.

A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Mercury General by 17.2% during 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 stake in Mercury General by 0.8% during 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 stake in Mercury General by 2.1% during 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 stake in Mercury General by 9.1% during 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 stake in Mercury General by 0.7% during 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. Hedge funds and other institutional investors own 46.04% of the company’s stock.

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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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