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Mercury General Corporation  (MCY)
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Price: $48.5500 $1.09 2.297%
Day's High: $48.71 Week Perf: 2.12 %
Day's Low: $ 47.16 30 Day Perf: 13.3 %
Volume (M): 511 52 Wk High: $ 52.42
Volume (M$): $ 24,790 52 Wk Avg: $33.96
Open: $47.16 52 Wk Low: $26.15



 Market Capitalization (Millions $) 2,688
 Shares Outstanding (Millions) 55
 Employees 4,500
 Revenues (TTM) (Millions $) 4,630
 Net Income (TTM) (Millions $) 96
 Cash Flow (TTM) (Millions $) 261
 Capital Exp. (TTM) (Millions $) 37

Mercury General Corporation

Mercury General Corporation ("Mercury General") and its subsidiaries are primarily engaged in writing personal automobile insurance through 14 insurance subsidiaries (referred to herein collectively as the "Insurance Companies") in 13 states, principally California. The Company also writes homeowners, commercial automobile, commercial property, mechanical breakdown, and umbrella insurance.

Insurance type
Published maximum limits of liability Private Passenger Automobile - bodily injury (BI) $250,000 per person; $500,000 per accident
Private Passenger Automobile - property damage $250,000 per accident Commercial Automobile (combined policy limits) $1,000,000 per accident
Homeowner property no maximum Homeowner liability $1,000,000
Umbrella liability $5,000,000

The majority of the Company’s automobile policies have liability limits that are equal to or less than $100,000 per person and $300,000 per accident for BI and $50,000 per accident for property damage.

The Company obtains facultative reinsurance above a Company retention limit of up to $7 million.

The majority of the Company’s homeowner policies have liability limits of $300,000 or less and a replacement value of $500,000 or less.

The majority of the Company’s umbrella policies have liability limits of $1,000,000.

The principal executive offices of Mercury General are located in Los Angeles, California. The home office of the Insurance Companies and the information technology center are located in Brea, California. The Company also owns office buildings in Rancho Cucamonga and Folsom, California, which are used to support California operations and future expansion, and in Clearwater, Florida and in Oklahoma City, Oklahoma, which house Company employees and several third party tenants. The Company has approximately 4,300 employees. The Company maintains branch offices in a number of locations in California; Clearwater, Florida; Bridgewater, New Jersey; Oklahoma City, Oklahoma; and Austin and San Antonio, Texas.

The Company consolidated its non-California office based claims and underwriting operations into hubs located in Clearwater, Florida; Bridgewater, New Jersey; and Austin, Texas, which resulted in a net workforce reduction of approximately 135 employees and a $10 million pre-tax expense in the first quarter of 2013.

The Company sells its policies through approximately 9,700 independent agents, its 100% owned insurance agents, AIS and Poliseek, and directly through internet sales portals. All of the independent agents collectively accounted for more than 87% of the Companys direct premiums written in 2015, and no independent agent accounted for more than 1% of the Company’s direct premiums written during the last three years. Approximately 1,900 of the independent agents are located in California and approximately 1,500 are located in Florida. The independent agents are independent contractors selected and contracted by the Company and generally also represent competing insurance companies. AIS and Poliseek represented the Company as independent agents prior to their acquisition in 2009, and continue to act as independent agents selling policies for a number of other insurance companies. Policies sold directly through the internet sales portals are assigned to and serviced by the Companys agents.



   Company Address: 4484 Wilshire Boulevard Los Angeles, 90010 CA
   Company Phone Number: 937-1060   Stock Exchange / Ticker: NYSE MCY
   


Customers Net Income grew by MCY's Customers Net Profit Margin grew to

23.87 %

7.74 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
AIG   -0.72%    
HIG        0.72% 
L        1% 
MKL        1.48% 
PGR        3.75% 
TRV        0.66% 
• View Complete Report
   



Mercury General Corporation

Mercury General Corporation Emerges Victorious with Impressive Q4 2023 Financial Results, Exhibiting Strong Revenue Growth and Remarkable Turnaround

Mercury General Corporation (MCY), a leading Property & Casualty Insurance company, reported strong financial results for the fiscal period from October to December 31, 2023. The company experienced a significant turnaround, with earnings per share (EPS) reaching $3.46, compared to a loss of $0.12 per share in the previous year. This positive performance follows a previous reporting season in which MCY had negative EPS of $0.15 per share.
One of the key factors contributing to MCY's success was its impressive revenue growth. The company's revenue increased by a substantial 19.358% to $1.37 billion during the period, compared to $1.15 billion in the same reporting season of the previous year. Furthermore, the revenue showed sequential improvement of 29.05% from $1.07 billion. MCY's top-line growth in the fourth quarter of 2023 outperformed its peers in the Property & Casualty Insurance sector, with an average revenue rise of 11.39% in the same period.
Mercury General Corporation's earnings for the October to December 31, 2023 fiscal period improved significantly compared to the same season a year ago. The company recorded earnings of $191.394 million, compared to a net deficit of $-6.771 million previously. This improvement can be attributed to the company's dedication to improving profit margins. MCY's net margin rose to 13.92% during the period, while its operating margin increased to 23.14%. Additionally, operating earnings rose by an impressive 444.03% to $318.149 million.

Mercury General Corporation

Mercury General Corporation achieves remarkable progress with smooth improvement in Q3 2023



Mercury General Corporation, a property and casualty insurance company, has shown notable improvements in its financial results. Over the past five trading days, the company's shares witnessed a modest increase of 0.68%. Although the year-to-date performance remains negative at -13.66%, its shares are trading 13.4% above the 52-week low. Let's analyze the financial results and consider how they might impact the company moving forward.
1. Improved Loss per Share:
During the financial period ending September 30, 2023, Mercury General Corporation reduced its loss per share significantly, from $-1.78 to $-0.15 per share compared to the previous year. This improvement indicates the company's efforts in addressing and minimizing losses, showcasing a positive outlook.

Mercury General Corporation

Mercury General Corporation Showcases Promising Financial Recovery With Reduced Loss per Share & 37.881% Revenue Jump in June 2023 Quarter



Mercury General Corporation, a leading insurance provider, recently released its financial results for the time-frame ending June 30, 2023. The report reveals several noteworthy positive developments, including a significant reduction in losses per share, improved earnings per share, and a considerable revenue jump. These outcomes are expected to have a profound impact on the company, paving the way for future success.
1. Reduction in Losses and Improved Earnings per Share:
One of the most striking highlights of Mercury General Corporation's financial results is the reduction in losses per share. Comparing the figures from the previous year, a decrease from $-3.80 to $-0.75 per share was observed. Furthermore, earnings per share (EPS) improved from $-0.82 to an undisclosed positive value. This positive shift signifies that the company's efforts to streamline operations and enhance efficiency are yielding significant results. It hints at a potential turnaround in profitability and establishes a foundation for future growth.

Mercury General Corporation

Failed to become profitable in spite of surge in revenue, the company over the first quarter of 2023 earnings season

Mercury General Corporation is a leading provider of property and casualty insurance products in the United States. The Company operates through its subsidiaries, which are engaged in underwriting and providing automobile, homeowners, and commercial insurance products. Mercury General Corporation is known for its strong customer service and its commitment to offering affordable coverage to its clients. While the Company has been able to achieve strong revenue growth in recent years, its profitability has been impacted by rising costs and an increasingly competitive market.
Mercury General Corporation's first quarter 2023 earnings report indicates that the Company lost money at $-0.82 per share compared to Revenue of $1.15 billion and $-0.12 per share in the preceding financial reporting period. Despite this, the Company's revenue surged by 37.385 % to $1.11 billion from the similar financial reporting period a year ago. The total net shortfall of $-45.288 million was reported instead of the deficit of $-196.917 million, indicating that the Company has been able to narrow its losses.
Looking into the financial span closing April 01, 2023, it was reported that Mercury General Corporation's profitability operating margin mitigated to 9.21%, and net margin shrank to 5.87%. While these numbers indicate a decline in profitability, they are still competitive in a market that has been characterized by rising costs and increasing competition.






 

Mercury General's Segments
 
 
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  Company Estimates  
  Revenue Outlook
Mercury General does not provide revenue guidance.

Earnings Outlook
Mercury General Corporation does not provide earnings estimates.

 
Geographic Revenue Dispersion




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