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. The company sells its policies through a network of independent agents and insurance agencies, as well as directly through internet sales portals in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia. Mercury General Corporation was founded in 1961 and is headquartered in Los Angeles, California.
Analyst Ratings Changes
Separately, TheStreet downgraded shares of Mercury General from a "b" rating to a "c+" rating in a research report on Friday, May 6th.
Mercury General Stock Performance
MCY opened at $33.51 on Tuesday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.22. The company's fifty day moving average price is $43.63 and its two-hundred day moving average price is $49.49. Mercury General has a 1-year low of $31.29 and a 1-year high of $60.67. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -4.94 and a beta of 0.39.
Mercury General Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.27 annualized dividend and a yield of 3.79%. Mercury General's payout ratio is -37.41%.