California-Based Mercury General Reports 4Q Profit of $31.7M

Mercury General Corp. on Monday reported fourth-quarter profit of $31.7 million.

On a per-share basis, the Los Angeles-based company said it had profit of 57 cents. Earnings, adjusted for investment gains, came to 21 cents per share.

The auto insurance company posted revenue of $988 million in the period. Its adjusted revenue was $962.9 million.

For the year, the company reported net income of $320.1 million, or $5.78 per share, swinging to a profit in the period. Revenue was reported as $3.75 billion.

Mercury General shares have climbed slightly since the beginning of the year. The stock has decreased slightly more than 8% in the last 12 months.