Mercury General (NYSE:MCY) Rating Lowered to Buy at StockNews.com

Mercury General (NYSE:MCY - Get Free Report) was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Thursday.

Mercury General Stock Performance

Shares of NYSE MCY traded down $0.26 during midday trading on Thursday, hitting $68.58. The company's stock had a trading volume of 180,416 shares, compared to its average volume of 241,349. Mercury General has a one year low of $36.96 and a one year high of $80.72. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 6.80 and a beta of 0.84. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $72.09 and a 200 day moving average price of $63.55.

Mercury General (NYSE:MCY - Get Free Report) last posted its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $1.39. Mercury General had a net margin of 10.18% and a return on equity of 18.04%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. On average, research analysts forecast that Mercury General will post 6.35 EPS for the current fiscal year.

Insider Activity at Mercury General

In related news, VP Heidi C. Sullivan sold 1,076 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $77.28, for a total value of $83,153.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 35.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mercury General

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP increased its stake in shares of Mercury General by 1,190.5% during the third quarter. Allworth Financial LP now owns 542 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 500 shares in the last quarter. National Bank of Canada FI bought a new position in Mercury General during the second quarter valued at approximately $32,000. Blue Trust Inc. boosted its stake in shares of Mercury General by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 1,151 shares of the insurance provider's stock worth $72,000 after buying an additional 482 shares during the last quarter. Quarry LP increased its position in Mercury General by 112.0% during the second quarter. Quarry LP now owns 1,215 shares of the insurance provider's stock valued at $65,000 after acquiring an additional 642 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Mercury General by 115.8% in the 3rd quarter. CWM LLC now owns 1,215 shares of the insurance provider's stock worth $77,000 after purchasing an additional 652 shares during the period. 42.39% of the stock is owned by hedge funds and other institutional investors.

About Mercury General

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.

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