Revenue Update on Mercury General Corporation(NYSE:MCY)

Mercury General Corporation(NYSE:MCY) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 6, 2017. Company reported revenue of $737.598M. Analysts estimated a revenue of $827.040M. The revenues were -10.81% below the estimates. Earnings per share were $0.58. The reported EPS was above estimates by 3.57%. Analysts had estimated an EPS of $0.56.

Mercury General Corporation (MCY) shares turned negative on Tuesdays trading session with the shares closing down -2.44 points or -4.01% at a volume of 3,92,247. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $60.85. The peak price level was also seen at $60.85 while the days lowest was $58.38. Finally the shares closed at $58.45. The 52-week high of the shares is $64.52 while the 52-week low is $46.01. According to the latest information available, the market cap of the company is $3,231 M.

Several Insider Transactions has been reported to the SEC. On Nov 10, 2016, Mike Curtius (director) sold 1,500 shares at $56.29 per share price.Also, On Mar 8, 2016, Gabriel Tirador (CEO/President) sold 7,500 shares at $54.00 per share price.On Mar 3, 2016, Brandt Minnich (VP/Marketing) sold 3,000 shares at $53.82 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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