Mercury General (NYSE:MCY) Sets New 52-Week High at $54.59

Mercury General Co. (NYSE:MCY - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $54.59 and last traded at $52.44, with a volume of 164204 shares changing hands. The stock had previously closed at $53.37.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Mercury General from a "buy" rating to a "strong-buy" rating in a report on Thursday, February 15th.

Mercury General Stock Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $2.88 billion, a P/E ratio of 29.90 and a beta of 0.80. The firm's fifty day moving average price is $48.84 and its 200 day moving average price is $40.57.

Mercury General (NYSE:MCY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The insurance provider reported $1.15 EPS for the quarter, beating the consensus estimate of $0.05 by $1.10. Mercury General had a net margin of 2.08% and a return on equity of 1.17%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. Sell-side analysts expect that Mercury General Co. will post 2.9 EPS for the current fiscal year.

Mercury General Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were issued a $0.317 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.27 annualized dividend and a dividend yield of 2.44%. Mercury General's dividend payout ratio is currently 72.99%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Larson Financial Group LLC bought a new position in shares of Mercury General during the 3rd quarter worth approximately $25,000. Quarry LP raised its stake in shares of Mercury General by 35.6% during the 4th quarter. Quarry LP now owns 876 shares of the insurance provider's stock worth $33,000 after acquiring an additional 230 shares in the last quarter. Fairfield Bush & CO. bought a new position in shares of Mercury General during the 1st quarter worth approximately $33,000. Gradient Investments LLC bought a new position in shares of Mercury General during the 3rd quarter worth approximately $38,000. Finally, Global Retirement Partners LLC raised its stake in shares of Mercury General by 5,212.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,700 shares of the insurance provider's stock worth $67,000 after acquiring an additional 1,668 shares in the last quarter. Institutional investors own 42.39% of the company's stock.

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.