Mercury General Corporation (MCY) Lifted to “Hold” at Zacks Investment Research

Mercury General Corporation (NYSE:MCY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, November 8th.

According to Zacks, “Mercury General Corp. is engaged primarily in writing all risk classifications of automobile insurance in a number of states, principally California. The company offers automobile policyholders the following types of coverage: bodily injury liability, underinsured and uninsured motorist, property damage liability, comprehensive, collision and other hazards specified in the policy. “

Other equities research analysts have also issued research reports about the company. BidaskClub lowered Mercury General from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. TheStreet lowered Mercury General from a “b” rating to a “c+” rating in a research note on Monday, October 30th.

Mercury General (NYSE MCY) traded down $0.01 during midday trading on Wednesday, hitting $54.83. The stock had a trading volume of 35,754 shares, compared to its average volume of 204,632. Mercury General has a 12 month low of $52.52 and a 12 month high of $64.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.46 and a current ratio of 0.46. The company has a market cap of $3,034.41, a price-to-earnings ratio of 26.62, a PEG ratio of 1.10 and a beta of 0.53.

Mercury General (NYSE:MCY) last released its earnings results on Monday, October 30th. The insurance provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.18. Mercury General had a return on equity of 6.47% and a net margin of 3.00%. The company had revenue of $827.42 million during the quarter, compared to analyst estimates of $835.00 million. During the same quarter in the previous year, the company posted $0.67 EPS. Mercury General’s revenue for the quarter was up 2.4% on a year-over-year basis. sell-side analysts anticipate that Mercury General will post 1.88 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Massey Quick Simon & CO. LLC purchased a new position in Mercury General during the 3rd quarter valued at about $108,000. LS Investment Advisors LLC increased its holdings in Mercury General by 17.5% during the 2nd quarter. LS Investment Advisors LLC now owns 2,922 shares of the insurance provider’s stock valued at $158,000 after purchasing an additional 435 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new position in Mercury General during the 2nd quarter valued at about $166,000. Pacer Advisors Inc. increased its holdings in Mercury General by 2.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,308 shares of the insurance provider’s stock valued at $179,000 after purchasing an additional 92 shares during the period. Finally, Flinton Capital Management LLC increased its holdings in Mercury General by 55.9% during the 2nd quarter. Flinton Capital Management LLC now owns 3,604 shares of the insurance provider’s stock valued at $195,000 after purchasing an additional 1,292 shares during the period. Institutional investors own 47.48% of the company’s stock.

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Mercury General Company Profile

Mercury General Corporation is an insurance holding company. As of December 31, 2016, the Company and its subsidiaries were engaged in writing personal automobile insurance through 14 insurance subsidiaries in 11 states, principally California. Its segments include Property and Casualty Lines, and Other Lines.

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