According to Zacks, “Mercury General Corp. is engaged primarily in writing all risk classifications of automobile insurance in a number of states, principally California. The company offers automobile policyholders the following types of coverage: bodily injury liability, underinsured and uninsured motorist, property damage liability, comprehensive, collision and other hazards specified in the policy. “
Separately, StockNews.com initiated coverage on shares of Mercury General in a research report on Thursday, March 31st. They issued a “hold” rating for the company.
Mercury General (NYSE:MCY – Get Rating) last released its quarterly earnings results on Tuesday, February 15th. The insurance provider reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.62). Mercury General had a net margin of 6.21% and a return on equity of 7.46%. The business had revenue of $994.57 million during the quarter, compared to analysts’ expectations of $994.38 million. During the same quarter last year, the company earned $1.38 EPS. On average, analysts forecast that Mercury General will post 2.9 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. Solidarilty Wealth LLC purchased a new position in Mercury General during the 1st quarter worth $310,000. Exchange Traded Concepts LLC increased its holdings in shares of Mercury General by 12.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 11,194 shares of the insurance provider’s stock valued at $616,000 after purchasing an additional 1,262 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Mercury General by 9.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 13,205 shares of the insurance provider’s stock valued at $726,000 after purchasing an additional 1,152 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Mercury General in the 1st quarter valued at about $1,768,000. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Mercury General by 2.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the insurance provider’s stock valued at $380,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 40.18% of the company’s stock.
About Mercury General (Get Rating)
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, fire, and other hazards.
- Get a free copy of the StockNews.com research report on Mercury General (MCY)
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