Mercury General (NYSE:MCY) Upgraded at StockNews.com

Mercury General (NYSE:MCY) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

Mercury General Price Performance

MCY stock traded down $1.85 on Tuesday, hitting $72.07. 269,305 shares of the company’s stock traded hands, compared to its average volume of 237,181. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.31. Mercury General has a 1-year low of $36.96 and a 1-year high of $80.72. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 7.14 and a beta of 0.84. The stock has a fifty day moving average of $70.92 and a 200-day moving average of $62.45.

Mercury General (NYSE:MCY) last posted its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share for the quarter, beating the consensus estimate of $1.15 by $1.39. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company earned $1.14 earnings per share. On average, analysts forecast that Mercury General will post 6.35 EPS for the current fiscal year.

Insider Transactions at Mercury General

In other Mercury General news, VP Heidi C. Sullivan sold 1,076 shares of Mercury General stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $77.28, for a total value of $83,153.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 35.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mercury General

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC raised its holdings in shares of Mercury General by 962.3% during the 2nd quarter. CWM LLC now owns 563 shares of the insurance provider’s stock worth $30,000 after buying an additional 510 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Mercury General during the 2nd quarter worth approximately $32,000. Allworth Financial LP increased its holdings in Mercury General by 1,190.5% during the third quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock worth $34,000 after buying an additional 500 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Mercury General by 8,262.5% during the 2nd quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 661 shares during the period. Finally, FSC Wealth Advisors LLC bought a new stake in Mercury General during the 2nd quarter valued at $64,000. Institutional investors own 42.39% of the company’s stock.

Mercury General Company Profile

Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. The company also writes homeowners, commercial automobile, commercial property, mechanical protection, and umbrella insurance products. Its automobile insurance products include collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners insurance products comprise dwelling, liability, personal property, and other coverages.