Mercury General Q1 Profit Rises

(RTTNews) - Insurance company Mercury General Corp.(MCY) reported higher first-quarter net income of $72.6 million or $1.32 per share compared with $66.4 million or $1.21 per share in the same period last year.

Operating income, which excludes realized investment gains and losses, amounted to $42.2 million or $ 0.77 per share. On average, 4 analysts polled by Thomson Reuters expected $0.64 per share for the quarter.

Total revenues for the quarter rose to $ 762 million from $740 million in the first quarter of 2013.Analysts estimated revenues of $718.44 million for the quarter.

In addition, the board declared a quarterly dividend of $0.6150 per share, to be paid on June 26, 2014 to shareholders of record on June 12, 2014.