Zacks Investment Research upgraded shares of Mercury General Corporation (NYSE:MCY) from a sell rating to a hold rating in a report released on Wednesday.

According to Zacks, “Mercury General Corp. is engaged primarily in writing all risk classifications of automobile insurance in a number of states, principally California. The company offers automobile policyholders the following types of coverage: bodily injury liability, underinsured and uninsured motorist, property damage liability, comprehensive, collision and other hazards specified in the policy. “

A number of other equities analysts also recently commented on MCY. BidaskClub downgraded Mercury General Corporation from a hold rating to a sell rating in a research report on Wednesday, July 12th. TheStreet cut Mercury General Corporation from a b rating to a c+ rating in a research note on Monday, October 30th.

Mercury General Corporation (NYSE MCY) opened at $55.62 on Wednesday. Mercury General Corporation has a 1 year low of $52.52 and a 1 year high of $64.52. The company has a market capitalization of $3,077.57, a P/E ratio of 27.00, a P/E/G ratio of 1.12 and a beta of 0.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.46 and a current ratio of 0.46.

Mercury General Corporation (NYSE:MCY) last announced its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.18. Mercury General Corporation had a return on equity of 6.47% and a net margin of 3.00%. The firm had revenue of $827.42 million for the quarter, compared to the consensus estimate of $835.00 million. During the same quarter last year, the business posted $0.67 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. analysts forecast that Mercury General Corporation will post 1.88 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th will be paid a dividend of $0.625 per share. This is a boost from Mercury General Corporation’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, December 13th. This represents a $2.50 annualized dividend and a yield of 4.49%. Mercury General Corporation’s dividend payout ratio (DPR) is 139.11%.

Hedge funds have recently bought and sold shares of the business. Massey Quick Simon & CO. LLC acquired a new stake in Mercury General Corporation during the third quarter worth $108,000. LS Investment Advisors LLC increased its stake in Mercury General Corporation by 17.5% during the second quarter. LS Investment Advisors LLC now owns 2,922 shares of the insurance provider’s stock worth $158,000 after acquiring an additional 435 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in Mercury General Corporation during the second quarter worth $166,000. Pacer Advisors Inc. increased its stake in Mercury General Corporation by 2.9% during the second quarter. Pacer Advisors Inc. now owns 3,308 shares of the insurance provider’s stock worth $179,000 after acquiring an additional 92 shares during the last quarter. Finally, Flinton Capital Management LLC increased its stake in Mercury General Corporation by 55.9% during the second quarter. Flinton Capital Management LLC now owns 3,604 shares of the insurance provider’s stock worth $195,000 after acquiring an additional 1,292 shares during the last quarter. 46.93% of the stock is owned by institutional investors.

About Mercury General Corporation

Mercury General Corporation is an insurance holding company. As of December 31, 2016, the Company and its subsidiaries were engaged in writing personal automobile insurance through 14 insurance subsidiaries in 11 states, principally California. Its segments include Property and Casualty Lines, and Other Lines.

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