Mercury General Corporation (MCY) Releases Earnings Results, Beats Expectations By $0.18 EPS – Highland Mirror

Mercury General Corporation (MCY) announced its most recent quarterly financial results on Monday, Jul-31-2017. MCY said it had a profit of $0.68 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.18. Analysts had a consensus of $0.50. The company posted revenue of $852.80 million in the period, compared to analysts expectations of $815.85 million. MCY’s revenue was down -.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS.

Several company insiders have filed Insider transactions , on Jun 14, 2017, Randall R Petro (Vice President – Claims) sold 1,672 shares at $55.52 per share price. According to the SEC, on Mar 15, 2017, Allan Lubitz (Senior VP-IT) sold 2,650 shares at $60.03 per share price. On Feb 24, 2017, Christopher Graves (CIO/Vice President) sold 9,015 shares at $58.05 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.

Mercury General Corporation

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