Mercury General
Writes auto and homeowners insurance primarily through independent agents.
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Profile
Writes predominantly private passenger auto and homeowners coverage, with smaller commercial auto, property, mechanical protection, fire, and umbrella lines. Revenue comes mainly from insurance premiums, supplemented by investment income; distribution relies on independent agents, and the book remains concentrated in California.
Writes private passenger auto and homeowners insurance, alongside smaller commercial auto, commercial property, mechanical protection, fire, and umbrella lines. Policies are distributed mainly through independent agents, supplemented by owned agencies and internet portals; underwriting and most claims handling remain in-house. Premiums and investment income fund claims, operating costs, and the investment portfolio.
Operates across 11 states but remains concentrated in California, which generates most direct premiums and an even larger share of auto premiums. Execution centers on pricing and segmentation, agent relationships, underwriting, claims handling, and reinsurance for catastrophe exposure. Wildfire and severe-storm losses shape results in core markets. State insurance departments approve rates and govern capital, solvency, affiliate transactions, and subsidiary dividends.
Company facts
Key statistics
Year to date +12.2% · Average volume (30d) 263.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating |
|---|---|---|---|---|
| Feb 12, 2025 | Raymond James | Upgrade | Outperform | Strong Buy |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $2.53 | $3.52 | +39.1% | $1.52B | $1.56B | +2.3% | +2.82% |
| May 5, 2026Q1 FY26 | $2.15 | $3.50 | +62.8% | $1.46B | $1.55B | +6.1% | −1.55% |
| Feb 17, 2026Q4 FY25 | $2.56 | $3.66 | +43.0% | $1.37B | $1.43B | +3.9% | −9.20% |
| Nov 4, 2025Q3 FY25 | $2.15 | $3.86 | +79.5% | $1.37B | $1.58B | +15.3% | +2.48% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.39B | $1.48B | $1.58B | $1.54B | $1.54B | $1.68B | |
| Gross profit | −$55.7M | $310.0M | $466.0M | $1.31B | $606.9M | $458.2M | |
| Operating income | −$142.3M | $206.7M | $350.3M | $248.9M | $235.7M | $327.3M | |
| Net income | −$108.3M | $166.5M | $280.4M | $202.5M | $190.4M | $263.5M | |
| Diluted EPS | −$1.96 | $3.01 | $5.06 | $3.66 | $3.44 | $4.76 | |
| Gross margin | -4.0% | 21.0% | 29.4% | 85.2% | 39.4% | 27.2% | |
| Operating margin | -10.2% | 14.0% | 22.1% | 16.2% | 15.3% | 19.5% |
Fiscal years (4-quarter sums)FY21 $3.99B · FY22 $3.64B · FY23 $4.63B · FY24 $5.48B · FY25 $5.99B
Balance sheet, Jun 30, 2026Cash & short-term investments $2.07B · Total debt $962.1M · Total assets $10.54B · Shareholders' equity $2.84B
Dividends
Raised for 2 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 11, 2026 | Jun 11 | Jun 25 | $0.3175 | |
| Mar 12, 2026 | Mar 12 | Mar 26 | $0.3175 | |
| Dec 10, 2025 | Dec 10 | Dec 24 | $0.3175 | |
| Sep 11, 2025 | Sep 11 | Sep 25 | $0.3175 | |
| Jun 12, 2025 | Jun 12 | Jun 26 | $0.3175 | |
| Mar 13, 2025 | Mar 13 | Mar 27 | $0.3175 | |
| Dec 12, 2024 | Dec 12 | Dec 26 | $0.3175 | |
| Sep 12, 2024 | Sep 12 | Sep 26 | $0.3175 |
Ownership
Shares outstanding 55.39M · Float 26.55M · 47.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 4.50M | 8.12% | 13F | Aug 7, 2026 |
| Dimensional Fund Advisors LP | 2.16M | 3.91% | 13F | Aug 11, 2026 |
| Vanguard Portfolio Management LLC | 1.78M | 3.22% | 13F | Aug 13, 2026 |
| Rubric Capital Management LP | 1.54M | 2.78% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 1.23M | 2.23% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 10, 2025 | George Gwyer Braunegg | director | +552 | $90.42 |
Peers
- Progressive
National auto leader with agency, direct, home, and commercial overlap
- Allstate
Large personal-lines carrier across auto, home, agency, and direct
- Travelers
Agency P&C peer with personal auto, home, and small commercial lines
- Kemper
Specialty auto carrier with agency-led personal and commercial auto overlap
- Cincinnati Financial
Independent-agency P&C carrier bundling auto and homeowners
- The Hanover Insurance Group
Independent-agent personal-lines peer in auto and homeowners
- Chubb
High-net-worth home, auto, valuables, and umbrella competitor
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Mercury General | $102.97 | 0.00% | $5.70B | 6.1 | 8.6 | 0.9 | +5.5% |
| Progressive | $217.33 | −0.61% | $127.12B | 11.0 | 13.3 | 1.4 | −4.2% |
| Allstate | $260.58 | −0.03% | $67.08B | 5.2 | 9.2 | 1.0 | −7.2% |
| Travelers | $372.15 | +0.62% | $77.15B | 9.9 | 12.4 | 1.6 | −4.8% |
| Kemper | $27.93 | 0.00% | $1.64B | — | 8.9 | 0.4 | −11.0% |
| Cincinnati Financial | $171.97 | 0.00% | $26.39B | 8.1 | 19.6 | 1.9 | −18.9% |
| The Hanover Insurance Group | $227.67 | −0.02% | $7.93B | 10.9 | 12.0 | 1.2 | +0.4% |
| Chubb | $340.37 | +0.13% | $131.14B | 12.0 | 12.2 | 2.1 | −1.3% |
| Median | 10.4 | 12.2 | 1.4 | −4.8% |