Mercury General Corporation (NYSE:MCY) Plans $0.32 Quarterly Dividend

Mercury General Corporation (NYSE:MCY) announced a quarterly dividend on Tuesday, May 5th. Shareholders of record on Thursday, June 11th will be given a dividend of 0.3175 per share by the insurance provider on Thursday, June 25th. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, June 11th.

Mercury General has decreased its dividend by an average of 0.1%per year over the last three years. Mercury General has a payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mercury General to earn $8.00 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 15.9%.

Mercury General Stock Performance

Shares of Mercury General stock opened at $99.03 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 10.01 and a beta of 0.92. The stock’s 50-day moving average is $91.13 and its 200-day moving average is $89.55. Mercury General has a one year low of $54.00 and a one year high of $100.06.

Mercury General (NYSE:MCY) last posted its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $1.35. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.46 billion. Mercury General had a return on equity of 20.74% and a net margin of 9.03%. Equities analysts predict that Mercury General will post 9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mercury General

Several institutional investors and hedge funds have recently modified their holdings of the stock. Financial Management Professionals Inc. acquired a new stake in shares of Mercury General during the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new position in Mercury General in the 3rd quarter valued at about $34,000. Jones Financial Companies Lllp grew its stake in Mercury General by 236.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 457 shares of the insurance provider’s stock valued at $38,000 after buying an additional 321 shares during the last quarter. Hilton Head Capital Partners LLC bought a new position in Mercury General in the 4th quarter valued at about $38,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in Mercury General during the fourth quarter worth approximately $40,000. 42.39% of the stock is currently owned by institutional investors and hedge funds.

About Mercury General

Mercury General Corporation is a holding company headquartered in Los Angeles, California, that underwrites and markets property and casualty insurance products through its principal subsidiary, Mercury Insurance Company. Established in 1961, the company has built a reputation for offering a broad range of personal and commercial lines, with a focus on automobile coverage. Mercury General operates in key U.S. markets, deploying a mix of independent agents and direct distribution channels to serve policyholders.

The company’s product portfolio includes personal automobile insurance, homeowners and renters policies, as well as commercial automobile, business liability and umbrella insurance.