Mercury General (NYSE:MCY) Announces Earnings Results

Mercury General (NYSE:MCY) released its earnings results on Tuesday. The insurance provider reported $3.66 EPS for the quarter, beating the consensus estimate of $2.56 by $1.10, FiscalAI reports. Mercury General had a net margin of 7.55% and a return on equity of 19.53%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.37 billion.

Mercury General Trading Up 3.0%

Shares of NYSE MCY traded up $2.84 during trading on Tuesday, reaching $96.31. The company had a trading volume of 378,073 shares, compared to its average volume of 230,633. The stock has a market cap of $5.33 billion, a P/E ratio of 12.15 and a beta of 0.94. The company’s fifty day moving average price is $91.33 and its 200-day moving average price is $84.68. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.26. Mercury General has a 12 month low of $47.06 and a 12 month high of $96.86.

Institutional Trading of Mercury General

Institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its stake in Mercury General by 194.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,209 shares of the insurance provider’s stock valued at $81,000 after purchasing an additional 798 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Mercury General during the 4th quarter worth about $102,000. Advisory Services Network LLC acquired a new stake in shares of Mercury General in the 3rd quarter valued at about $115,000. Smartleaf Asset Management LLC increased its position in Mercury General by 186.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,270 shares of the insurance provider’s stock valued at $120,000 after buying an additional 827 shares in the last quarter. Finally, denkapparat Operations GmbH bought a new position in Mercury General in the fourth quarter worth approximately $204,000. 42.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MCY shares. Zacks Research downgraded Mercury General from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Mercury General in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $100.00.

Mercury General Company Profile

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.