Mercury General Corporation (MCY) To Go Ex-Dividend on September 10th

Mercury General Corporation (NYSE:MCY) announced a quarterly dividend on Friday, July 31st. Shareholders of record on Thursday, September 10th will be given a dividend of 0.3175 per share by the insurance provider on Thursday, September 24th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, September 10th.

Mercury General has decreased its dividend payment by an average of 0.1%annually over the last three years. Mercury General has a dividend payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Mercury General to earn $11.25 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 11.3%.

Mercury General Stock Performance

Shares of MCY stock opened at $104.34 on Tuesday. Mercury General has a 52-week low of $74.29 and a 52-week high of $113.06. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33. The stock has a market cap of $5.78 billion, a PE ratio of 6.17 and a beta of 0.90. The business has a 50-day simple moving average of $106.52 and a 200-day simple moving average of $99.15.

Mercury General (NYSE:MCY) last announced its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $3.52 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.99. Mercury General had a return on equity of 31.98% and a net margin of 14.77%.The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.52 billion. On average, equities analysts expect that Mercury General will post 12.75 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Mercury General in a research report on Tuesday, September 1st. Wall Street Zen upgraded Mercury General from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Finally, Zacks Research raised Mercury General from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and an average target price of $100.00.

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.