Mercury General (NYSE:MCY) Stock Rating Upgraded by Wall Street Zen

Mercury General (NYSE:MCY) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Several other equities research analysts have also recently weighed in on MCY. Weiss Ratings restated a “buy (b)” rating on shares of Mercury General in a research note on Thursday, June 4th. Zacks Research upgraded shares of Mercury General from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat.com, Mercury General presently has a consensus rating of “Strong Buy” and a consensus price target of $100.00.

Mercury General Stock Down 0.3%

Mercury General stock opened at $110.12 on Friday. Mercury General has a 1-year low of $64.21 and a 1-year high of $111.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a market cap of $6.10 billion, a PE ratio of 7.26 and a beta of 0.89. The stock’s fifty day moving average is $101.06 and its two-hundred day moving average is $94.31.

Mercury General (NYSE:MCY) last released its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $1.35. Mercury General had a return on equity of 32.94% and a net margin of 13.68%.The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.46 billion. On average, sell-side analysts expect that Mercury General will post 11.38 EPS for the current fiscal year.

Institutional Trading of Mercury General

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. purchased a new stake in shares of Mercury General in the 4th quarter valued at about $25,000. Hilton Head Capital Partners LLC purchased a new position in Mercury General during the 4th quarter worth approximately $38,000. Mcguire Capital Advisors Inc. acquired a new position in Mercury General during the fourth quarter worth approximately $40,000. IFP Advisors Inc increased its position in Mercury General by 79.4% during the fourth quarter. IFP Advisors Inc now owns 506 shares of the insurance provider’s stock worth $48,000 after buying an additional 224 shares during the period. Finally, Allworth Financial LP lifted its stake in Mercury General by 18.6% in the third quarter. Allworth Financial LP now owns 753 shares of the insurance provider’s stock valued at $64,000 after buying an additional 118 shares during the last quarter. Institutional investors and hedge funds own 42.39% of the company’s stock.

About Mercury General

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.