MCY Stock Recent News

LOS ANGELES , Feb. 11, 2025 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today the fourth quarter and fiscal 2024 results: Consolidated Highlights Three Months Ended December 31, Change Twelve Months Ended December 31, Change 2024 2023 $ % 2024 2023 $ % (000's except per-share amounts and ratios) Net premiums earned $  1,352,101 $  1,144,895 $   207,206 18.1 % $  5,075,456 $  4,274,378 $  801,078 18.7 % Net premiums written (1) $  1,314,933 $  1,132,150 $   182,783 16.1 % $  5,378,310 $  4,464,199 $  914,111 20.5 % Net realized investment (losses) gains, net of tax (2) $      (52,823) $     127,810 $  (180,633) (141.3) % $       70,050 $       79,801 $     (9,751) (12.2) % Net income $     101,068 $     191,394 $    (90,326) (47.2) % $     467,953 $       96,336 $  371,617 385.8 % Net income per diluted share $           1.82 $           3.46 $        (1.64) (47.4) % $           8.45 $ 

Risks related to geographical concentration, negative analysts' sentiment, and a probable decline in the bottom line keep us doubtful on MCY stock.

(Follow-Up to January 24 th Press Release with Access Information) LOS ANGELES , Feb. 5, 2025 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) will host an investor conference call and webcast on February 12, 2025 at 9:00 A.M. Pacific Time (12:00 P.M.

Ensure your vehicle is ready to handle colder weather and challenging road conditions LOS ANGELES , Jan. 30, 2025 /PRNewswire/ -- As winter approaches, drivers face potential challenges like icy roads, freezing temperatures and reduced visibility. Taking steps to winterize your car can help ensure your safety and prevent costly repairs.

LOS ANGELES , Jan. 24, 2025 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) will host an investor conference call and webcast on February 12, 2025, at 9:00 A.M. Pacific Time (12:00 P.M.

LOS ANGELES , Jan. 22, 2025 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today that after the markets close on Tuesday, February 11, 2025, the Company will issue an earnings press release reporting its results for the fourth quarter of 2024, and will also file its annual report on Form 10-K with the Securities and Exchange Commission.  The earnings press release should be read in conjunction with the Company's annual report on Form 10-K.

Safety Insurance shows improvement but still struggles with underwriting losses; maintaining a "HOLD" rating due to ongoing challenges and valuation concerns. Mercury General has turned a corner with better underwriting results, but California wildfires pose significant risks to its recovery. Safety Insurance's dividend remains secure, supported by investment income, but the focus should be on improving underwriting margins.

LOS ANGELES , Jan. 20, 2025 /PRNewswire/ -- Mercury General Corporation (the "Company" or "Mercury") is providing more information about the recent Southern California Wildfires, known as the Palisades and Eaton fires (collectively, the "Wildfires"), and the Company's reinsurance program.  Most of the affected areas are closed due to ongoing hazardous conditions.

Mercury General Corporation faces significant exposure to LA wildfires due to its high concentration of homeowners insurance in California. Despite the potential $251 million hit, Mercury's reinsurance coverage and strategic risk management ensure solvency and future profitability. The recent 16% MCY stock price dip appears to be an overreaction, presenting a tactical buying opportunity.

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.