Mercury General (NYSE:MCY) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Mercury General Corporation (NYSE:MCY)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $81.95 and traded as high as $87.23. Mercury General shares last traded at $85.43, with a volume of 215,697 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. 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 Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $100.00.

Mercury General Stock Performance

The company has a 50-day simple moving average of $91.41 and a two-hundred day simple moving average of $81.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a market capitalization of $4.73 billion, a P/E ratio of 10.77 and a beta of 0.93.

Mercury General (NYSE:MCY) last announced its earnings results on Tuesday, November 4th. The insurance provider reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $1.71. Mercury General had a return on equity of 19.53% and a net margin of 7.55%.The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.49 billion. As a group, equities analysts forecast that Mercury General Corporation will post -0.5 EPS for the current year.

Mercury General Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 10th were given a dividend of $0.3175 per share. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $1.27 annualized dividend and a yield of 1.5%. Mercury General’s dividend payout ratio (DPR) is currently 16.02%.

Institutional Trading of Mercury General

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its position in Mercury General by 58.8% during the 1st quarter. Royal Bank of Canada now owns 54,312 shares of the insurance provider’s stock valued at $3,036,000 after acquiring an additional 20,115 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Mercury General by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,935 shares of the insurance provider’s stock valued at $891,000 after purchasing an additional 702 shares in the last quarter. Millennium Management LLC increased its stake in shares of Mercury General by 8.5% during the first quarter. Millennium Management LLC now owns 111,327 shares of the insurance provider’s stock valued at $6,223,000 after purchasing an additional 8,742 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Mercury General by 1.7% during the first quarter. Empowered Funds LLC now owns 10,923 shares of the insurance provider’s stock valued at $611,000 after purchasing an additional 185 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Mercury General by 43.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,821 shares of the insurance provider’s stock valued at $661,000 after purchasing an additional 2,951 shares during the last quarter. 42.39% of the stock is owned by hedge funds and other institutional investors.

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.