Mercury General Corporation $MCY Stock Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its position in shares of Mercury General Corporation (NYSE:MCY) by 77.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,434 shares of the insurance provider’s stock after selling 21,700 shares during the period. Inspire Investing LLC’s holdings in Mercury General were worth $636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in shares of Mercury General in the 3rd quarter valued at about $30,000. Allworth Financial LP bought a new position in Mercury General during the second quarter worth about $35,000. PenderFund Capital Management Ltd. acquired a new position in Mercury General during the second quarter worth approximately $44,000. Caitlin John LLC acquired a new position in Mercury General during the second quarter worth approximately $53,000. Finally, State of Wyoming bought a new stake in Mercury General in the second quarter valued at approximately $78,000. Institutional investors and hedge funds own 42.39% of the company’s stock.

Mercury General Trading Up 2.3%

Shares of NYSE:MCY opened at $102.52 on Friday. Mercury General Corporation has a 12-month low of $74.29 and a 12-month high of $113.06. The stock has a market cap of $5.68 billion, a PE ratio of 6.06 and a beta of 0.89. The business has a 50 day moving average of $102.26 and a 200-day moving average of $98.48. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33.

Mercury General (NYSE:MCY) last announced its earnings results on Tuesday, August 4th. The insurance provider reported $3.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.99. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.52 billion. Mercury General had a return on equity of 31.98% and a net margin of 14.77%. As a group, equities research analysts forecast that Mercury General Corporation will post 13.25 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on MCY shares. Wall Street Zen raised Mercury General from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Weiss Ratings restated a “buy (b)” rating on shares of Mercury General in a research note on Tuesday, September 1st. Finally, Zacks Research raised Mercury General from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, Mercury General currently has a consensus rating of “Strong Buy”.

Mercury General Company Profile

Mercury General Corporation (NYSE:MCY) is an insurance holding company that writes personal and commercial property and casualty insurance through its subsidiaries. The company is best known for automobile insurance, offering coverage such as liability, collision, comprehensive and uninsured or underinsured motorist protection.

Its product portfolio also includes homeowners, renters, condominium, mobile-home and umbrella insurance, as well as commercial automobile coverage and other related property and casualty products.