Mercury General (NYSE:MCY) Upgraded at Zacks Research

Mercury General (NYSE:MCY) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Separately, Wall Street Zen downgraded shares of Mercury General from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and an average target price of $100.00.

Mercury General Stock Performance

Mercury General stock opened at $99.56 on Tuesday. The firm’s 50 day simple moving average is $94.56 and its 200-day simple moving average is $91.94. The company has a market cap of $5.51 billion, a P/E ratio of 6.56 and a beta of 0.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.44 and a quick ratio of 0.44. Mercury General has a fifty-two week low of $60.41 and a fifty-two week high of $103.86.

Mercury General (NYSE:MCY) last released its earnings results on Tuesday, May 5th. The insurance provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $2.15 by $1.35. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.46 billion. Mercury General had a net margin of 13.68% and a return on equity of 32.94%. As a group, equities research analysts predict that Mercury General will post 11.75 EPS for the current year.

Hedge Funds Weigh In On Mercury General

Large investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. acquired a new position in Mercury General during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Mercury General in the 3rd quarter worth about $34,000. Hilton Head Capital Partners LLC bought a new stake in shares of Mercury General in the 4th quarter worth about $38,000. Mcguire Capital Advisors Inc. bought a new stake in Mercury General during the 4th quarter worth about $40,000. Finally, Jones Financial Companies Lllp grew its holdings in Mercury General by 236.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 457 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 321 shares during the last quarter. 42.39% of the stock is currently owned by institutional investors and hedge funds.

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.