Mercury General (NYSE:MCY) Sets New 1-Year High – What’s Next?

Shares of Mercury General Co. (NYSE:MCY) reached a new 52-week high during trading on Wednesday . The company traded as high as $79.07 and last traded at $79.07, with a volume of 1933 shares traded. The stock had previously closed at $78.38.

Mercury General Trading Up 0.7 %

The business’s 50 day moving average price is $68.03 and its two-hundred day moving average price is $61.11. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 7.86 and a beta of 0.81.

Mercury General (NYSE:MCY) last released its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $1.39. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm posted $1.14 earnings per share. Equities analysts forecast that Mercury General Co. will post 6.35 earnings per share for the current fiscal year.

Mercury General Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Thursday, December 12th will be issued a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Thursday, December 12th. Mercury General’s payout ratio is currently 12.59%.

Institutional Investors Weigh In On Mercury General

Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP grew its stake in shares of Mercury General by 1,190.5% in the 3rd quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 500 shares during the last quarter. CWM LLC increased its holdings in shares of Mercury General by 962.3% in the second quarter. CWM LLC now owns 563 shares of the insurance provider’s stock valued at $30,000 after buying an additional 510 shares in the last quarter. National Bank of Canada FI acquired a new stake in shares of Mercury General during the 2nd quarter valued at $32,000. Blue Trust Inc. lifted its position in shares of Mercury General by 8,262.5% during the 2nd quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 661 shares during the last quarter. Finally, FSC Wealth Advisors LLC bought a new stake in shares of Mercury General during the 2nd quarter worth $64,000. 42.39% of the stock is owned by institutional investors and hedge funds.

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.