Mercury General (NYSE:MCY) Stock Rating Upgraded by StockNews.com

Mercury General (NYSE:MCY) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Mercury General Stock Performance

Shares of NYSE MCY opened at $54.70 on Friday. The stock’s fifty day simple moving average is $50.78 and its 200 day simple moving average is $42.77. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 14.06 and a beta of 0.77. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.36. Mercury General has a 52-week low of $27.27 and a 52-week high of $57.12.

Mercury General (NYSE:MCY) last issued its quarterly earnings results on Tuesday, February 13th. The insurance provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $1.10. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Mercury General had a return on equity of 9.85% and a net margin of 4.48%. As a group, sell-side analysts forecast that Mercury General will post 2.9 earnings per share for the current fiscal year.

Institutional Trading of Mercury General

A number of hedge funds have recently modified their holdings of MCY. Diversified Trust Co grew its position in Mercury General by 4.9% during the first quarter. Diversified Trust Co now owns 7,832 shares of the insurance provider’s stock valued at $404,000 after purchasing an additional 369 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Mercury General by 5.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 7,487 shares of the insurance provider’s stock valued at $210,000 after acquiring an additional 416 shares in the last quarter. Swiss National Bank increased its stake in shares of Mercury General by 1.0% in the third quarter. Swiss National Bank now owns 60,900 shares of the insurance provider’s stock worth $1,707,000 after acquiring an additional 600 shares during the last quarter. Inspire Investing LLC raised its holdings in shares of Mercury General by 6.6% during the third quarter. Inspire Investing LLC now owns 11,011 shares of the insurance provider’s stock worth $309,000 after acquiring an additional 681 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new stake in Mercury General during the third quarter valued at $25,000. Hedge funds and other 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.