Mercury General Co. (NYSE:MCY) Director George Gwyer Braunegg bought 500 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $50.86 per share, for a total transaction of $25,430.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Mercury General stock traded down $0.07 during midday trading on Friday, reaching $50.69. The stock had a trading volume of 486,319 shares, compared to its average volume of 477,952. Mercury General Co. has a 12 month low of $43.46 and a 12 month high of $61.83. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 0.26 and a beta of 0.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.44 and a quick ratio of 0.44.
Mercury General (NYSE:MCY) last issued its earnings results on Monday, February 11th. The insurance provider reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($1.00). Mercury General had a negative net margin of 0.17% and a positive return on equity of 5.91%. The firm had revenue of $850.70 million during the quarter, compared to the consensus estimate of $832.44 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts expect that Mercury General Co. will post 3.6 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 14th will be given a $0.627 dividend. This represents a $2.51 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend is Wednesday, March 13th. Mercury General’s payout ratio is 139.44%.
A number of analysts recently commented on the company. Zacks Investment Research lowered Mercury General from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. ValuEngine lowered Mercury General from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd.
A number of institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Mercury General during the 4th quarter worth approximately $31,116,000. Cetera Advisors LLC bought a new stake in Mercury General during the 4th quarter worth approximately $219,000. Legal & General Group Plc increased its holdings in Mercury General by 5.5% during the 4th quarter. Legal & General Group Plc now owns 44,333 shares of the insurance provider’s stock worth $2,293,000 after purchasing an additional 2,295 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Mercury General by 6.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 6,887 shares of the insurance provider’s stock worth $356,000 after purchasing an additional 401 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Mercury General by 43.6% during the 4th quarter. Jane Street Group LLC now owns 19,408 shares of the insurance provider’s stock worth $1,004,000 after purchasing an additional 5,896 shares in the last quarter. 47.61% of the stock is owned by institutional investors and hedge funds.
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Mercury General Company Profile
Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. The company also writes homeowners, commercial automobile, commercial property, mechanical protection, fire, and umbrella insurance. Its automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners' insurance products cover dwelling, liability, personal property, fire, and other hazards.
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