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 analyst has rated the stock with a sell recommendation and one has assigned a hold recommendation to the company.
Brokers have set a twelve-month consensus price target of $42.00 for the company and are forecasting that the company will post $0.48 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Mercury General an industry rank of 173 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised Mercury General from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Wednesday, November 29th.
Several large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in shares of Mercury General by 1.0% in the third quarter. Ameriprise Financial Inc. now owns 105,898 shares of the insurance provider’s stock valued at $6,002,000 after purchasing an additional 1,052 shares during the period. Principal Financial Group Inc. grew its position in shares of Mercury General by 0.9% in the third quarter. Principal Financial Group Inc. now owns 150,511 shares of the insurance provider’s stock valued at $8,532,000 after purchasing an additional 1,289 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Mercury General by 76.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,313 shares of the insurance provider’s stock valued at $177,000 after purchasing an additional 1,439 shares during the period. TD Asset Management Inc. grew its position in Mercury General by 5.1% during the third quarter. TD Asset Management Inc. now owns 30,875 shares of the insurance provider’s stock valued at $1,750,000 after acquiring an additional 1,500 shares during the period. Finally, Nationwide Fund Advisors grew its position in Mercury General by 2.5% during the third quarter. Nationwide Fund Advisors now owns 64,560 shares of the insurance provider’s stock valued at $3,660,000 after acquiring an additional 1,575 shares during the period. 46.32% of the stock is owned by institutional investors and hedge funds.
Mercury General (MCY) traded up $0.07 during trading on Friday, reaching $47.30. The company’s stock had a trading volume of 125,578 shares, compared to its average volume of 442,050. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2,660.37, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 0.76 and a beta of 0.48. Mercury General has a one year low of $41.40 and a one year high of $63.23.
Mercury General (NYSE:MCY) last announced its quarterly earnings data on Monday, February 5th. The insurance provider reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.18). The business had revenue of $779.20 million during the quarter, compared to analysts’ expectations of $847.35 million. Mercury General had a net margin of 4.24% and a return on equity of 5.14%. Mercury General’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. research analysts anticipate that Mercury General will post 2.5 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date is Wednesday, March 14th. Mercury General’s dividend payout ratio is currently 95.42%.
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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