Mercury General Corporation (MCY) was Reiterated by Compass Point to “Neutral” while Lowering the Price Target of the company shares to $ 51 from a previous price target of $55 . Compass Point advised their investors in a research report released on Aug 2, 2016.
On the company’s financial health, Mercury General Corporation reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.59. The company had revenue of $858.00 million for the quarter, compared to analysts expectations of $779.60 million. The company’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.
Mercury General Corporation closed down -0.65 points or -1.16% at $55.37 with 7,02,044 shares getting traded on Friday. Post opening the session at $56.14, the shares hit an intraday low of $55.22 and an intraday high of $56.14 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Mar 8, 2016, Gabriel Tirador (CEO/President) sold 7,500 shares at $54.00 per share price. According to the SEC, on Mar 3, 2016, Brandt Minnich (VP/Marketing) sold 3,000 shares at $53.82 per share price. On May 1, 2015, Mike Curtius (director) purchased 1,000 shares at $54.97 per share price, according to the Form-4 filing with the securities and exchange commission.
Mercury General Corporation is an insurance holding company. Through its subsidiaries the Company operates as a personal automobile insurer selling policies through a network of independent agents 100% owned insurance agents and direct channels in around 13 states. It also offers homeowners commercial automobile commercial property mechanical breakdown fire and umbrella insurance. It provides various types of automobile coverage such as collision property damage bodily injury comprehensive personal injury protection underinsured and uninsured motorist and other hazards. It offers a range of homeowner’s coverage including dwelling liability personal property fire and other hazards. It has operations in Arizona California Georgia Illinois Michigan Nevada and New Jersey among others. Its subsidiaries include Mercury Casualty Company Mercury Insurance Company California Automobile Insurance Company and Mercury Insurance Company of Georgia among others.