Shares of Mercury General Co. (NYSE:MCY) have received a consensus broker rating score of 3.50 (Sell) from the two analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a sell recommendation and one has assigned a hold recommendation to the company.
Analysts have set a twelve-month consensus price objective of $52.00 for the company and are expecting that the company will post $0.39 EPS for the current quarter, according to Zacks. Zacks has also assigned Mercury General an industry rank of 54 out of 265 based on the ratings given to related companies.
MCY has been the subject of a number of recent research reports. Zacks Investment Research cut Mercury General from a “buy” rating to a “sell” rating in a research report on Wednesday, October 4th. TheStreet cut Mercury General from a “b” rating to a “c+” rating in a research report on Monday, October 30th.
Mercury General (NYSE:MCY) last announced its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.18. Mercury General had a return on equity of 6.47% and a net margin of 3.00%. The business had revenue of $827.42 million during the quarter, compared to analysts’ expectations of $835.00 million. During the same quarter last year, the business posted $0.67 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. analysts forecast that Mercury General will post 1.88 EPS for the current year.
The business also recently disclosed 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 4.81%. The ex-dividend date was Wednesday, December 13th. This is a boost from Mercury General’s previous quarterly dividend of $0.62. Mercury General’s dividend payout ratio (DPR) is currently 139.66%.
A number of institutional investors have recently bought and sold shares of MCY. Schwab Charles Investment Management Inc. increased its position in Mercury General by 7.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 233,904 shares of the insurance provider’s stock worth $12,631,000 after purchasing an additional 15,249 shares in the last quarter. Legal & General Group Plc increased its position in Mercury General by 14.8% during the 2nd quarter. Legal & General Group Plc now owns 41,700 shares of the insurance provider’s stock worth $2,252,000 after purchasing an additional 5,388 shares in the last quarter. Prudential Financial Inc. increased its position in Mercury General by 10.5% during the 2nd quarter. Prudential Financial Inc. now owns 34,635 shares of the insurance provider’s stock worth $1,870,000 after purchasing an additional 3,280 shares in the last quarter. Principal Financial Group Inc. increased its position in Mercury General by 0.9% during the 2nd quarter. Principal Financial Group Inc. now owns 149,222 shares of the insurance provider’s stock worth $8,058,000 after purchasing an additional 1,274 shares in the last quarter. Finally, Swiss National Bank increased its position in Mercury General by 3.3% during the 2nd quarter. Swiss National Bank now owns 46,800 shares of the insurance provider’s stock worth $2,527,000 after purchasing an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 46.04% of the company’s stock.
About Mercury General
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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