Mercury General (NYSE:MCY) Trading Down 5.8% – Should You Sell?

Mercury General Co. (NYSE:MCY) shares were down 5.8% during mid-day trading on Tuesday . The company traded as low as $48.93 and last traded at $48.66. Approximately 66,895 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 1,107,462 shares. The stock had previously closed at $51.65.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Mercury General from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 26th.

Mercury General Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.33 and a current ratio of 0.33. The stock’s 50-day moving average is $65.23 and its two-hundred day moving average is $64.22. The stock has a market cap of $2.74 billion, a PE ratio of 4.91 and a beta of 0.87.

Mercury General (NYSE:MCY) last announced its earnings results on Tuesday, October 29th. The insurance provider reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $1.39. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. During the same period last year, the business posted $1.14 EPS. On average, equities analysts predict that Mercury General Co. will post 5.05 earnings per share for the current year.

Insider Activity

In related news, VP Heidi C. Sullivan sold 1,076 shares of Mercury General stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $77.28, for a total value of $83,153.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 35.50% of the company’s stock.

Institutional Investors Weigh In On Mercury General

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its holdings in Mercury General by 3.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 7,496 shares of the insurance provider’s stock valued at $498,000 after buying an additional 238 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Mercury General by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,660 shares of the insurance provider’s stock worth $832,000 after acquiring an additional 396 shares in the last quarter. Empowered Funds LLC lifted its stake in Mercury General by 4.4% during the fourth quarter. Empowered Funds LLC now owns 10,738 shares of the insurance provider’s stock worth $714,000 after purchasing an additional 451 shares during the last quarter. KBC Group NV boosted its holdings in Mercury General by 58.6% in the fourth quarter. KBC Group NV now owns 1,299 shares of the insurance provider’s stock valued at $86,000 after purchasing an additional 480 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Mercury General by 1.0% in the third quarter. BNP Paribas Financial Markets now owns 47,882 shares of the insurance provider’s stock valued at $3,016,000 after purchasing an additional 481 shares during the last quarter. 42.39% 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, 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, and other coverages.