Mercury General Co. (MCY) Given Consensus Rating of “Sell” by Analysts

Mercury General Co. (NYSE:MCY) has been given a consensus broker rating score of 3.50 (Sell) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a sell rating and one has assigned a hold rating to the company.

Brokerages have set a 12-month consensus price target of $53.00 for the company and are predicting that the company will post $0.74 EPS for the current quarter, according to Zacks. Zacks has also given Mercury General an industry rank of 179 out of 257 based on the ratings given to its competitors.

Several brokerages recently weighed in on MCY. Zacks Investment Research upgraded Mercury General from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 26th. ValuEngine upgraded Mercury General from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Keefe, Bruyette & Woods started coverage on Mercury General in a research note on Tuesday, August 28th. They set a “buy” rating and a $64.00 price target on the stock. Finally, TheStreet upgraded Mercury General from a “c+” rating to a “b-” rating in a research note on Friday, August 10th.

Shares of Mercury General stock traded down $0.07 during trading on Tuesday, reaching $58.93. The company’s stock had a trading volume of 145,360 shares, compared to its average volume of 397,615. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 35.93 and a beta of 0.23. Mercury General has a 1-year low of $41.40 and a 1-year high of $61.83.

Mercury General (NYSE:MCY) last issued its quarterly earnings results on Monday, October 29th. The insurance provider reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.38. Mercury General had a return on equity of 7.13% and a net margin of 2.80%. The company had revenue of $905.34 million during the quarter, compared to analysts’ expectations of $877.06 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that Mercury General will post 2.8 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Thursday, December 13th will be given a dividend of $0.6275 per share. The ex-dividend date of this dividend is Wednesday, December 12th. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.26%. This is a positive change from Mercury General’s previous quarterly dividend of $0.63. Mercury General’s dividend payout ratio is currently 152.44%.

Several institutional investors have recently bought and sold shares of MCY. Victory Capital Management Inc. increased its position in shares of Mercury General by 2,048.6% during the third quarter. Victory Capital Management Inc. now owns 413,930 shares of the insurance provider’s stock worth $20,763,000 after acquiring an additional 394,665 shares during the period. Dimensional Fund Advisors LP increased its holdings in Mercury General by 16.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,052,259 shares of the insurance provider’s stock valued at $93,500,000 after buying an additional 291,742 shares during the last quarter. Man Group plc purchased a new position in Mercury General in the third quarter valued at $8,441,000. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in Mercury General by 212.5% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 244,861 shares of the insurance provider’s stock valued at $12,282,000 after buying an additional 166,502 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Mercury General by 14.0% in the third quarter. Renaissance Technologies LLC now owns 1,118,346 shares of the insurance provider’s stock valued at $56,096,000 after buying an additional 137,446 shares during the last quarter. 48.02% of the stock is currently owned by institutional investors and hedge funds.

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, fire, and umbrella insurance. Its automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners insurance products cover dwelling, liability, personal property, fire, and other hazards.

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