Mercury General downgraded by Raymond James with a new price target
$MCY
Property-Casualty Insurers
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Raymond James downgraded Mercury General from Strong Buy to Outperform and set a new price target of $33.00 from $40.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/7/2023 | $40.00 → $33.00 | Strong Buy → Outperform | Raymond James |
| 11/4/2022 | $45.00 | Underperform → Strong Buy | Raymond James |
Company Stands With Californians as They Begin Their Rebuilding Efforts LOS ANGELES, Jan. 17, 2025 /PRNewswire/ -- Mercury Insurance is providing comprehensive support to its customers impacted by the ongoing Los Angeles area wildfires. The company is prioritizing the timely handling of claims, providing immediate financial support, and helping insureds through the claims process. Immediate Payments: The company has already begun disbursing additional living expenses and claims payment advances to those affected by the fires.24/7 Access to Claims Filing: Customers can easily file a claim through the online portal anytime, day or night. For those needing additional support, the claims hotline
LOS ANGELES, Jan. 10, 2025 /PRNewswire/ -- Mercury General Corporation (the "Company," "Mercury" or "We") announced today its preliminary assessment of the impact of the recent wildfires in Southern California. An extreme wind-driven wildfire event that began on January 7, 2025 has caused widespread damage across parts of Southern California. The wildfires continue to burn, and it will be some time before the Company has an estimate of the total losses caused by this event. Based on information available to date, we expect the losses to exceed our reinsurance retention level of $150 million. The Company's reinsurance program provides $1,290 million of limits on a per occurrence basis after c
Company prepared to assist policyholders who have suffered home or auto loss; need living expenses reimbursement; or to file a claim for covered losses LOS ANGELES, Jan. 8, 2025 /PRNewswire/ -- The recent Santa Ana wind conditions have sparked wildfires across Southern California, forcing local authorities to issue mandatory evacuation orders for tens of thousands of residents across the region. Mercury Insurance is prepared to assist homeowner, renter and auto policyholders who have had to evacuate in response to those orders or whose property has suffered fire damage. Affected areas include the Palisades Fire - Pacific Palisades; Eaton Fire - Alta Dena; the Hurst Fire – Sylmar; and the Wo
Raymond James downgraded Mercury General from Strong Buy to Outperform and set a new price target of $33.00 from $40.00 previously
Raymond James upgraded Mercury General from Underperform to Strong Buy and set a new price target of $45.00
Raymond James resumed coverage of Mercury General with a rating of Sell
LOS ANGELES, Oct. 29, 2024 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today for the third quarter of 2024: Consolidated Highlights Three Months Ended September 30, Change Nine Months Ended September 30, Change 2024 2023 $ % 2024 2023 $ % (000's except per-share amounts and ratios) Net premiums earned $ 1,320,652 $ 1,090,311 $ 230,341 21.1 $ 3,723,355 $ 3,129,483 $ 593,872 19.0 Net premiums written (1) $ 1,422,933 $ 1,206,503 $ 216,430 17.9 $ 4,063,377 $ 3,332,049 $ 731,328 21.9 Net realized investment gains (losses), net of tax (2) $ 90,412 $ (71,101) $ 161,513 NM $ 122,873 $ (48,010) $ 170,883 NM Net income (loss) (3) $ 230,856 $ (8,227) $
LOS ANGELES, Oct. 8, 2024 /PRNewswire/ -- Mercury General Corporation (NYSE:MCY) reported today that after the markets close on Tuesday, October 29, 2024, the Company will issue an earnings press release reporting its results for the third quarter of 2024, and will also file its quarterly report on Form 10-Q with the Securities and Exchange Commission. The earnings press release should be read in conjunction with the Company's quarterly report on Form 10-Q. Mercury General Corporation and its subsidiaries are a multiple line insurance organization offering predominantly personal automobile and homeowners insurance through a network of independent producers and direct-to-consumer sales in man
LOS ANGELES, July 30, 2024 /PRNewswire/ -- Mercury General Corporation (NYSE:MCY) reported today for the second quarter of 2024: Consolidated Highlights Three Months Ended June 30, Change Six Months Ended June 30, Change 2024 2023 $ % 2024 2023 $ % (000's except per-share amounts and ratios) Net premiums earned $ 1,236,024 $ 1,034,469 $ 201,555 19.5 $ 2,402,703 $ 2,039,173 $ 363,530 17.8 Net premiums written (1) $ 1,355,460 $ 1,115,345 $ 240,115 21.5 $ 2,640,444 $ 2,125,546 $ 514,898 24.2 Net realized investment gains (losses), net of tax (2) $ 2,290 $ (15,625) $ 17,915 NM $ 32,461 $ 23,091 $ 9,370 40.6 Net income (loss) $ 62,568 $ (41,543) $ 104,111
8-K - MERCURY GENERAL CORP (0000064996) (Filer)
8-K - MERCURY GENERAL CORP (0000064996) (Filer)
10-Q - MERCURY GENERAL CORP (0000064996) (Filer)
Simon Zhang will spearhead effort to unlock Mercury's deep data and analytics resources to fuel the company's innovation efforts and improve customer experiences LOS ANGELES, Feb. 8, 2024 /PRNewswire/ -- Mercury Insurance (NYSE:MCY), a leading provider of property and casualty insurance, has appointed Simon Zhang to the newly-created position of Chief Data and Analytics Officer. The hire continues Mercury's ongoing effort to utilize advanced data analytics to drive business growth, elevate the carrier's product offerings, and better meet the needs of its policyholders. "This
Wilson Pang to Supercharge Technological Innovation Focused on Today's Modern Customers LOS ANGELES, March 6, 2023 /PRNewswire/ -- Mercury General Corporation (NYSE:MCY), a leading provider of property and casualty insurance, has appointed Wilson Pang as Chief Technology Officer (CTO) to lead its technological transformation efforts. Mercury was built on innovation when George Joseph – who founded Mercury more than 60 years ago – transformed the industry with the introduction of segmented pricing for different risk groups. With that entrepreneurial spirit serving as the foundation for the company, Mercury is poised to take a giant step into the digital future with the appointment of Mr. Pang
Wilson Pang to Supercharge Technological Innovation Focused on Today's Modern Customers LOS ANGELES, March 6, 2023 /PRNewswire-PRWeb/ -- Mercury General Corporation (NYSE:MCY), a leading provider of property and casualty insurance, has appointed Wilson Pang as Chief Technology Officer (CTO) to lead its technological transformation efforts. Mercury was built on innovation when George Joseph – who founded Mercury more than 60 years ago – transformed the industry with the introduction of segmented pricing for different risk groups. With that entrepreneurial spirit serving as the foundation for the company, Mercury is poised to take a giant step into the digital future with the appointment of Mr
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