Mercury General (NYSE:MCY) Hits New 52-Week High at $57.23

Mercury General Co. (NYSE:MCY) shares hit a new 52-week high on Thursday . The stock traded as high as $57.23 and last traded at $56.92, with a volume of 8236 shares trading hands. The stock had previously closed at $56.86.

Analyst Ratings Changes

Separately, StockNews.com raised Mercury General from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th.

Mercury General Trading Up 0.3 %

The company has a market capitalization of $3.16 billion, a P/E ratio of 14.61 and a beta of 0.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s 50 day moving average is $51.21 and its 200-day moving average is $43.22.

Mercury General (NYSE:MCY) last posted its earnings results on Tuesday, February 13th. The insurance provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.05 by $1.10. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Mercury General had a net margin of 4.48% and a return on equity of 9.85%. As a group, equities research analysts anticipate that Mercury General Co. will post 2.9 earnings per share for the current year.

Mercury General Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be given a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, June 13th. This is a boost from Mercury General’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a dividend yield of 2.23%. Mercury General’s dividend payout ratio (DPR) is currently 32.65%.

Institutional Trading of Mercury General

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new stake in shares of Mercury General in the 3rd quarter worth about $25,000. Gradient Investments LLC bought a new stake in Mercury General in the third quarter valued at $38,000. Global Retirement Partners LLC increased its holdings in shares of Mercury General by 5,212.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,700 shares of the insurance provider’s stock valued at $67,000 after purchasing an additional 1,668 shares during the period. Cornerstone Investment Partners LLC acquired a new position in Mercury General during the first quarter worth about $205,000. Finally, Mutual of America Capital Management LLC purchased a new position in Mercury General in the 1st quarter worth about $236,000. Hedge funds and other institutional investors own 42.39% of the company’s stock.

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, and umbrella insurance products. Its automobile insurance products include collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners insurance products comprise dwelling, liability, personal property, and other coverages.