Mercury General (NYSE:MCY) Sets New 1-Year High at $59.96

Mercury General Co. (NYSE:MCY) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $59.96 and last traded at $59.83, with a volume of 27422 shares changing hands. The stock had previously closed at $58.50.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Mercury General from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th.

Mercury General Price Performance

The stock’s 50-day simple moving average is $54.56 and its 200 day simple moving average is $50.77. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.36. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 15.05 and a beta of 0.82.

Mercury General (NYSE:MCY) last posted its earnings results on Tuesday, April 30th. The insurance provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.63. Mercury General had a net margin of 4.48% and a return on equity of 9.85%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. On average, equities research analysts anticipate that Mercury General Co. will post 3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its position in Mercury General by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the insurance provider’s stock valued at $712,000 after buying an additional 200 shares during the last quarter. Covestor Ltd lifted its position in shares of Mercury General by 20.8% during the first quarter. Covestor Ltd now owns 1,571 shares of the insurance provider’s stock worth $81,000 after purchasing an additional 271 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Mercury General by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 23,261 shares of the insurance provider’s stock worth $1,200,000 after purchasing an additional 311 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Mercury General by 2.1% during the first quarter. Illinois Municipal Retirement Fund now owns 15,179 shares of the insurance provider’s stock worth $783,000 after purchasing an additional 315 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of Mercury General by 4.2% during the second quarter. Diversified Trust Co now owns 8,158 shares of the insurance provider’s stock worth $434,000 after purchasing an additional 326 shares in the last quarter. Institutional investors and hedge funds own 42.39% of the company’s stock.

Mercury General Company Profile

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.