Shares of Mercury General Corporation (NYSE:MCY) traded at a new 52-week high today of $65.06. This new high was reached on below average trading volume as 82,000 shares traded hands, while the average 30-day volume is approximately 272,000 shares.
Mercury General Corporation (NYSE:MCY) is currently priced 2.7% above its average consensus analyst price target of $63.05.
Mercury General Corp is an insurance holding company operating in the property-casualty market, where it focuses on low-cost auto insurance for individuals, with operations in nearly 13 United States of America states. However, most of its business–about 75% of premiums–comes from California, where it was established by George Joseph, the current company chairman and majority owner. Its insurance is distributed exclusively through independent agents.
In the past 52 weeks, shares of Mercury General Corporation have traded between a low of $33.45 and a high of $65.06 and is now at $64.81, which is 94% above that low price.
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