Mercury General (NYSE:MCY) Stock Rating Upgraded by Zacks Research

Mercury General (NYSE:MCY) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Mercury General from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Mercury General in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy” and an average price target of $100.00.

Mercury General Price Performance

Shares of MCY stock opened at $90.49 on Thursday. Mercury General has a 12 month low of $47.06 and a 12 month high of $100.06. The company has a market capitalization of $5.01 billion, a P/E ratio of 9.26 and a beta of 0.94. The stock has a 50 day moving average of $90.60 and a two-hundred day moving average of $85.58. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.24.

Mercury General (NYSE:MCY) last released its quarterly earnings data on Tuesday, February 17th. The insurance provider reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $1.10. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Mercury General had a return on equity of 20.74% and a net margin of 9.03%. As a group, equities analysts expect that Mercury General will post -0.5 EPS for the current year.

Institutional Trading of Mercury General

Several large investors have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in shares of Mercury General in the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd bought a new position in Mercury General in the 3rd quarter valued at $34,000. Hilton Head Capital Partners LLC bought a new position in Mercury General in the 4th quarter valued at $38,000. Mcguire Capital Advisors Inc. acquired a new position in Mercury General in the fourth quarter worth $40,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Mercury General by 236.0% during the third quarter. Jones Financial Companies Lllp now owns 457 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 321 shares during the last quarter. 42.39% of the stock is owned by institutional investors.

Mercury General Company Profile

Mercury General Corporation is a holding company headquartered in Los Angeles, California, that underwrites and markets property and casualty insurance products through its principal subsidiary, Mercury Insurance Company. Established in 1961, the company has built a reputation for offering a broad range of personal and commercial lines, with a focus on automobile coverage. Mercury General operates in key U.S. markets, deploying a mix of independent agents and direct distribution channels to serve policyholders.

The company’s product portfolio includes personal automobile insurance, homeowners and renters policies, as well as commercial automobile, business liability and umbrella insurance.