Mercury General Corporation (MCY) To Go Ex-Dividend on March 12th

Mercury General Corporation (NYSE:MCY) declared a quarterly dividend on Friday, February 13th. Stockholders of record on Thursday, March 12th will be paid a dividend of 0.3175 per share by the insurance provider on Thursday, March 26th. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, March 12th.

Mercury General has decreased its dividend payment by an average of 0.1%annually over the last three years. Mercury General has a payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Mercury General to earn $5.25 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 24.2%.

Mercury General Stock Performance

NYSE:MCY opened at $89.49 on Tuesday. The stock has a 50-day simple moving average of $90.18 and a two-hundred day simple moving average of $86.44. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.42 and a current ratio of 0.42. Mercury General has a 52-week low of $47.06 and a 52-week high of $100.06. The firm has a market capitalization of $4.96 billion, a PE ratio of 9.16 and a beta of 0.92.

Mercury General (NYSE:MCY) last announced its quarterly earnings data on Tuesday, February 17th. The insurance provider reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $1.10. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.37 billion. Mercury General had a return on equity of 20.74% and a net margin of 9.03%. Analysts forecast that Mercury General will post -0.5 EPS for the current year.

Institutional Trading of Mercury General

Several hedge funds have recently modified their holdings of MCY. Park West Asset Management LLC bought a new position in Mercury General during the third quarter valued at $23,953,000. Rubric Capital Management LP increased its holdings in shares of Mercury General by 12.8% in the 2nd quarter. Rubric Capital Management LP now owns 2,054,504 shares of the insurance provider’s stock worth $138,350,000 after buying an additional 232,721 shares during the last quarter. Goldentree Asset Management LP purchased a new stake in shares of Mercury General during the 2nd quarter valued at about $10,935,000. Sei Investments Co. lifted its holdings in shares of Mercury General by 2,513.7% in the 2nd quarter. Sei Investments Co. now owns 157,893 shares of the insurance provider’s stock valued at $10,633,000 after acquiring an additional 151,852 shares during the last quarter. Finally, Philosophy Capital Management LLC purchased a new position in Mercury General in the third quarter worth about $11,778,000. 42.39% of the stock is owned by hedge funds and other institutional investors.

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.