Mercury General (NYSE:MCY) Reaches New 12-Month High – Should You Buy?

Mercury General Co. (NYSE:MCY) shares reached a new 52-week high on Wednesday . The stock traded as high as $72.10 and last traded at $72.10, with a volume of 174 shares traded. The stock had previously closed at $68.41.

Mercury General Trading Up 4.8 %

The firm has a 50 day moving average price of $63.62 and a two-hundred day moving average price of $58.51. The firm has a market capitalization of $3.97 billion, a P/E ratio of 11.85 and a beta of 0.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.31 and a current ratio of 0.31.

Mercury General (NYSE:MCY) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.29. Mercury General had a return on equity of 14.91% and a net margin of 6.36%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company earned ($0.47) earnings per share. On average, equities research analysts expect that Mercury General Co. will post 4 EPS for the current fiscal year.

Institutional Trading of Mercury General

Several hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC raised its holdings in Mercury General by 962.3% during the second quarter. CWM LLC now owns 563 shares of the insurance provider’s stock valued at $30,000 after buying an additional 510 shares in the last quarter. National Bank of Canada FI bought a new position in Mercury General during the second quarter valued at about $32,000. Allworth Financial LP raised its holdings in Mercury General by 1,190.5% during the third quarter. Allworth Financial LP now owns 542 shares of the insurance provider’s stock valued at $34,000 after buying an additional 500 shares in the last quarter. Blue Trust Inc. raised its holdings in Mercury General by 8,262.5% during the second quarter. Blue Trust Inc. now owns 669 shares of the insurance provider’s stock valued at $35,000 after buying an additional 661 shares in the last quarter. Finally, FSC Wealth Advisors LLC bought a new position in Mercury General during the second quarter valued at about $64,000. 42.39% of the stock is currently owned by hedge funds and other institutional investors.

About Mercury General

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.