Mercury General Co. (MCY) to Issue Quarterly Dividend of $0.32 on June 27th

Mercury General Co. (NYSE:MCY) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Stockholders of record on Thursday, June 13th will be given a dividend of 0.3175 per share by the insurance provider on Thursday, June 27th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Thursday, June 13th. This is a positive change from Mercury General’s previous quarterly dividend of $0.32.

Mercury General has decreased its dividend by an average of 20.5% per year over the last three years.

Mercury General Stock Up 3.8 %

MCY stock opened at $54.26 on Thursday. Mercury General has a twelve month low of $26.15 and a twelve month high of $57.12. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $3.00 billion, a P/E ratio of 13.95 and a beta of 0.77. The firm has a 50 day simple moving average of $50.59 and a 200-day simple moving average of $42.35.

Mercury General (NYSE:MCY) last released its quarterly earnings results on Tuesday, February 13th. The insurance provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $1.10. Mercury General had a net margin of 4.48% and a return on equity of 10.37%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. On average, equities research analysts predict that Mercury General will post 2.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Mercury General from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th.

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.