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

Mercury General Corporation (NYSE:MCY) announced a quarterly dividend on Tuesday, February 17th. Stockholders of record on Thursday, March 12th will be given 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 by an average of 0.1%per year over the last three years. Mercury General has a payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 7.2%

Shares of MCY stock traded down $6.95 during trading on Wednesday, hitting $89.24. 132,796 shares of the stock traded hands, compared to its average volume of 230,008. 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 $4.94 billion, a P/E ratio of 11.25 and a beta of 0.94. The firm’s fifty day moving average price is $91.46 and its 200-day moving average price is $84.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.45 and a quick ratio of 0.45.

Mercury General (NYSE:MCY) last issued its quarterly earnings data on Tuesday, February 17th. The insurance provider reported $3.66 earnings per share for the quarter, topping the consensus estimate of $2.56 by $1.10. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.37 billion. Mercury General had a return on equity of 19.53% and a net margin of 7.55%. As a group, research analysts forecast that Mercury General will post -0.5 earnings per share for the current fiscal year.

Mercury General Company Profile

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.