Zacks: Mercury General Co. (MCY) Given Average Rating of “Sell” by Analysts

Mercury General Co. (NYSE:MCY) has been given an average 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 target price of $49.00 for the company and are anticipating that the company will post $0.91 EPS for the current quarter, according to Zacks. Zacks has also given Mercury General an industry rank of 52 out of 256 based on the ratings given to its competitors.

MCY has been the subject of a number of recent analyst reports. TheStreet raised shares of Mercury General from a “c” rating to a “b” rating in a report on Tuesday, April 30th. ValuEngine downgraded Mercury General from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Zacks Investment Research downgraded Mercury General from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th.

NYSE MCY traded up $0.37 during trading on Monday, reaching $56.34. The company’s stock had a trading volume of 866 shares, compared to its average volume of 403,763. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.08 billion, a P/E ratio of 31.32, a P/E/G ratio of 0.41 and a beta of 0.26. Mercury General has a 12 month low of $43.46 and a 12 month high of $61.83.

Mercury General (NYSE:MCY) last posted its quarterly earnings data on Monday, April 29th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.10. The firm had revenue of $919.50 million during the quarter, compared to the consensus estimate of $917.25 million. Mercury General had a net margin of 4.78% and a return on equity of 8.50%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 EPS. Equities analysts expect that Mercury General will post 3.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be given a $0.6275 dividend. The ex-dividend date of this dividend is Wednesday, June 12th. This is a boost from Mercury General’s previous quarterly dividend of $0.63. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.46%. Mercury General’s payout ratio is 139.44%.

In other Mercury General news, Director George Gwyer Braunegg acquired 500 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $50.86 per share, for a total transaction of $25,430.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 34.20% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in shares of Mercury General in the first quarter valued at $25,000. Fort L.P. grew its holdings in shares of Mercury General by 110.8% during the first quarter. Fort L.P. now owns 664 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 349 shares during the last quarter. First Hawaiian Bank bought a new position in shares of Mercury General during the fourth quarter valued at approximately $38,000. Meeder Asset Management Inc. bought a new position in shares of Mercury General during the first quarter valued at approximately $59,000. Finally, Advisor Group Inc. grew its holdings in shares of Mercury General by 28.3% during the fourth quarter. Advisor Group Inc. now owns 1,594 shares of the insurance provider’s stock valued at $83,000 after purchasing an additional 352 shares during the last quarter. Institutional investors and hedge funds own 47.95% 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, 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.

Featured Article: What are the benefits of investing in REITs?

Get a free copy of the Zacks research report on Mercury General (MCY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Mercury General Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercury General and related companies with MarketBeat.com's FREE daily email newsletter.