Mercury General (NYSE:MCY) Given “Sell” Rating at Raymond James

Raymond James reissued their sell rating on shares of Mercury General (NYSE:MCY) in a research report sent to investors on Monday morning, Analyst Ratings Network reports.

Separately, Zacks Investment Research upgraded shares of Mercury General from a sell rating to a hold rating in a report on Wednesday, February 10th.

Shares of NYSE MCY opened at $59.35 on Monday. Mercury General has a fifty-two week low of $33.45 and a fifty-two week high of $59.54. The company has a 50 day simple moving average of $53.92 and a two-hundred day simple moving average of $47.00. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 13.71 and a beta of 0.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.36 and a current ratio of 0.36.

Mercury General (NYSE:MCY) last announced its earnings results on Monday, February 15th. The insurance provider reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.69. Mercury General had a net margin of 6.47% and a return on equity of 13.57%. On average, analysts forecast that Mercury General will post 4.7 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 17th will be issued a dividend of $0.632 per share. This represents a $2.53 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend is Tuesday, March 16th. Mercury General’s payout ratio is 97.31%.

Large investors have recently bought and sold shares of the company. Carroll Financial Associates Inc. purchased a new stake in shares of Mercury General during the fourth quarter valued at approximately $26,000. Montag A & Associates Inc. purchased a new stake in Mercury General in the fourth quarter worth approximately $31,000. Signaturefd LLC boosted its holdings in Mercury General by 71.5% in the fourth quarter. Signaturefd LLC now owns 614 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 256 shares during the last quarter. Sowell Financial Services LLC boosted its holdings in Mercury General by 253.0% in the fourth quarter. Sowell Financial Services LLC now owns 706 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 506 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in Mercury General by 221.0% in the third quarter. Meeder Asset Management Inc. now owns 780 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 537 shares during the last quarter. Hedge funds and other institutional investors own 38.62% 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. It also writes homeowners, commercial automobile, commercial property, mechanical protection, fire, and umbrella insurance. The company's 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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