Mercury General Co. (MCY) Director Joshua Eric Little Purchases 500 Shares

Mercury General Co. (NYSE:MCY) Director Joshua Eric Little acquired 500 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $42.68 per share, with a total value of $21,340.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at approximately $21,340. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mercury General Co. (NYSE MCY) traded down $0.23 during trading on Thursday, reaching $42.77. The company’s stock had a trading volume of 408,714 shares, compared to its average volume of 318,070. Mercury General Co. has a 52 week low of $41.40 and a 52 week high of $63.23. The company has a quick ratio of 0.46, a current ratio of 0.43 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2,357.15, a PE ratio of 16.35, a price-to-earnings-growth ratio of 0.49 and a beta of 0.42.

Mercury General (NYSE:MCY) last posted its quarterly earnings data on Monday, February 5th. The insurance provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.18). Mercury General had a return on equity of 5.14% and a net margin of 4.24%. The company had revenue of $779.20 million for the quarter, compared to analyst estimates of $847.35 million. During the same period in the previous year, the business posted $0.58 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. equities analysts predict that Mercury General Co. will post 2.78 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.50 dividend on an annualized basis and a yield of 5.85%. Mercury General’s payout ratio is 95.42%.

A number of analysts have weighed in on the company. Zacks Investment Research cut Mercury General from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. TheStreet cut Mercury General from a “b” rating to a “c+” rating in a research report on Monday, October 30th.

Institutional investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of Mercury General 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 buying an additional 423,115 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Mercury General 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 buying an additional 18,986 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Mercury General 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 buying an additional 26,723 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Mercury General 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 buying an additional 49,817 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Mercury General 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 buying an additional 3,276 shares during the period. 46.09% of the stock is owned by institutional investors.

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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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