Revenue Update on Mercury General Corporation(NYSE:MCY)

Mercury General Corporation(NYSE:MCY) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 1, 2016. Company reported revenue of $858.00M. Analysts estimated a revenue of $811.11M. Earnings per share were $0.35. Analysts had estimated an EPS of $0.65.

Mercury General Corporation (MCY) made into the market gainers list on Mondays trading session with the shares advancing 0.19% or 0.1 points. Due to strong positive momentum, the stock ended at $52.74, which is also near the day’s high of $52.95. The stock began the session at $52.73 and the volume stood at 85,280 shares. The 52-week high of the shares is $56.14 and the 52 week low is $42.97. The company has a current market capitalization of $2,914 M and it has 5,52,54,171 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Mar 8, 2016, Gabriel Tirador (CEO/President) sold 7,500 shares at $54.00 per share price.Also, 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.

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