Mercury General (NYSE:MCY) Stock Rating Lowered by StockNews.com

Mercury General (NYSE:MCY) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

Mercury General Price Performance

Mercury General stock traded down $0.26 during midday trading on Thursday, reaching $68.58. 180,416 shares of the stock traded hands, compared to its average volume of 241,349. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.80 billion, a P/E ratio of 6.80 and a beta of 0.84. Mercury General has a 12 month low of $36.96 and a 12 month high of $80.72. The stock’s fifty day moving average is $72.09 and its 200-day moving average is $63.55.

Mercury General (NYSE:MCY) last released its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 earnings per share for the quarter, beating the consensus estimate of $1.15 by $1.39. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.37 billion. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. During the same quarter in the previous year, the company posted $1.14 EPS. As a group, equities research analysts anticipate that Mercury General will post 6.35 EPS for the current year.

Insider Buying and Selling

In other Mercury General news, VP Heidi C. Sullivan sold 1,076 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $77.28, for a total transaction of $83,153.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 35.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mercury General

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in shares of Mercury General by 6.3% during the third quarter. Franklin Resources Inc. now owns 17,312 shares of the insurance provider’s stock worth $1,139,000 after acquiring an additional 1,024 shares during the last quarter. Tidal Investments LLC purchased a new position in Mercury General during the third quarter valued at approximately $325,000. Geode Capital Management LLC increased its holdings in shares of Mercury General by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 623,460 shares of the insurance provider’s stock valued at $39,273,000 after purchasing an additional 15,264 shares in the last quarter. Barclays PLC raised its position in shares of Mercury General by 319.9% in the third quarter. Barclays PLC now owns 46,557 shares of the insurance provider’s stock worth $2,931,000 after acquiring an additional 35,470 shares during the period. Finally, MML Investors Services LLC purchased a new position in Mercury General during the third quarter worth approximately $266,000. 42.39% of the stock is currently owned by institutional investors.

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.