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

Mercury General (NYSE:MCY) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other analysts have also issued reports on the stock. Weiss Ratings lowered shares of Mercury General from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday. Zacks Research upgraded shares of Mercury General from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Mercury General Stock Performance

NYSE MCY opened at $82.44 on Friday. The firm has a market capitalization of $4.57 billion, a P/E ratio of 7.10 and a beta of 0.93. Mercury General has a 1-year low of $81.78 and a 1-year high of $113.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.38 and a quick ratio of 0.38. The business’s 50-day simple moving average is $101.01 and its 200-day simple moving average is $98.60.

Mercury General (NYSE:MCY) last posted its earnings results on Tuesday, November 3rd. The insurance provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.06. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.62 billion. Mercury General had a net margin of 10.47% and a return on equity of 29.48%. Equities analysts predict that Mercury General will post 13.25 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MCY. Bank of America Corp DE bought a new stake in shares of Mercury General in the 2nd quarter worth about $7,424,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Mercury General in the 2nd quarter valued at about $1,733,000. The Manufacturers Life Insurance Company bought a new position in shares of Mercury General during the second quarter worth about $1,634,000. CX Institutional bought a new position in shares of Mercury General during the third quarter worth about $4,827,000. Finally, Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Mercury General during the second quarter worth about $6,738,384. Institutional investors and hedge funds own 42.39% of the company’s stock.

About Mercury General

Mercury General Corporation is a property and casualty insurance company best known for its personal auto insurance. Through its insurance subsidiaries, the company also offers homeowners, renters, commercial auto, and other insurance products, including umbrella coverage.

Founded in 1961, Mercury distributes policies through independent agents and direct-to-consumer channels. California is its primary market, and the company also serves customers in other U.S. states.