StockNews.com Downgrades Mercury General (NYSE:MCY) to Buy

Mercury General (NYSE:MCY) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

Mercury General Trading Up 1.2 %

Shares of MCY stock opened at $52.67 on Wednesday. Mercury General has a fifty-two week low of $26.15 and a fifty-two week high of $54.59. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50 day simple moving average of $49.10 and a two-hundred day simple moving average of $40.65. The company has a market cap of $2.92 billion, a P/E ratio of 30.27 and a beta of 0.80.

Mercury General (NYSE:MCY) last announced its quarterly earnings data on Tuesday, February 13th. The insurance provider reported $1.15 EPS for the quarter, topping the consensus estimate of $0.05 by $1.10. Mercury General had a net margin of 2.08% and a return on equity of 1.17%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. Research analysts forecast that Mercury General will post 2.9 earnings per share for the current year.

Institutional Trading of Mercury General

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC bought a new position in shares of Mercury General in the third quarter valued at approximately $25,000. Quarry LP lifted its stake in Mercury General by 35.6% during the 4th quarter. Quarry LP now owns 876 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 230 shares in the last quarter. Fairfield Bush & CO. purchased a new position in Mercury General during the 1st quarter worth $33,000. Gradient Investments LLC bought a new stake in shares of Mercury General in the 3rd quarter worth $38,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Mercury General by 5,212.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,700 shares of the insurance provider’s stock valued at $67,000 after purchasing an additional 1,668 shares during the last quarter. 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.