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

Mercury General (NYSE:MCY) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

Mercury General Stock Performance

Shares of MCY opened at $37.01 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. Mercury General has a one year low of $26.15 and a one year high of $39.47. The company’s fifty day moving average price is $29.75 and its 200 day moving average price is $30.00. The company has a market capitalization of $2.05 billion, a PE ratio of -20.11 and a beta of 0.65.

Mercury General (NYSE:MCY) last posted its quarterly earnings data on Tuesday, October 31st. The insurance provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $1.15. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Mercury General had a negative return on equity of 8.85% and a negative net margin of 2.31%. As a group, analysts expect that Mercury General will post -1.95 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC acquired a new stake in Mercury General during the third quarter worth about $25,000. Fairfield Bush & CO. acquired a new stake in shares of Mercury General during the 1st quarter worth approximately $33,000. Gradient Investments LLC bought a new stake in shares of Mercury General during the third quarter valued at approximately $38,000. Quarry LP raised its stake in shares of Mercury General by 40.0% in the first quarter. Quarry LP now owns 1,263 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 361 shares in the last quarter. Finally, WealthPLAN Partners LLC bought a new position in Mercury General in the first quarter worth $48,000. Institutional investors 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, fire, and other hazards.