The stock of Mercury General Corporation (NYSE:MCY) is a huge mover today! About 425,245 shares traded hands or 245.92% up from the average. Mercury General Corporation (NYSE:MCY) has declined 9.62% since March 29, 2016 and is downtrending. It has underperformed by 13.09% the S&P500.
The move comes after 6 months positive chart setup for the $2.98B company. It was reported on Oct, 31 by Barchart.com. We have $79.03 PT which if reached, will make NYSE:MCY worth $1.34B more.
Analysts await Mercury General Corporation (NYSE:MCY) to report earnings on November, 7. They expect $0.55 EPS, down 6.78% or $0.04 from last year’s $0.59 per share. MCY’s profit will be $30.07M for 24.77 P/E if the $0.55 EPS becomes a reality. After $0.35 actual EPS reported by Mercury General Corporation for the previous quarter, Wall Street now forecasts 57.14% EPS growth.
Mercury General Corporation (NYSE:MCY) Ratings Coverage
Out of 2 analysts covering Mercury General (NYSE:MCY), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Mercury General has been the topic of 3 analyst reports since August 26, 2015 according to StockzIntelligence Inc. Compass Point maintained it with “Neutral” rating and $55 target price in Tuesday, May 3 report. Raymond James upgraded the shares of MCY in a report on Friday, February 19 to “Mkt Perform” rating. Zacks upgraded the stock to “Sell” rating in Wednesday, August 26 report.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment increased to 1.59 in 2016 Q2. Its up 0.42, from 1.17 in 2016Q1. The ratio improved, as 19 funds sold all Mercury General Corporation shares owned while 40 reduced positions. 16 funds bought stakes while 78 increased positions. They now own 23.57 million shares or 1.99% more from 23.11 million shares in 2016Q1.
Ahl Limited Liability Partnership has 11,909 shares for 0.03% of their US portfolio. Creative Planning accumulated 700 shares or 0% of the stock. Guggenheim Capital Limited Co has 0% invested in the company for 15,936 shares. Hanson & Doremus Inv accumulated 450 shares or 0.01% of the stock. New Vernon Investment Management Limited Liability Corporation has 10,918 shares for 0.51% of their US portfolio. Sei Invests Com last reported 0% of its portfolio in the stock. Price T Rowe Assocs Md, a Maryland-based fund reported 20,652 shares. The Minnesota-based Jnba Advsrs has invested 0% in Mercury General Corporation (NYSE:MCY). Dimensional Fund Advisors Ltd Partnership has 0.04% invested in the company for 1.17M shares. Federated Inc Pa last reported 22,152 shares in the company. Guardian owns 603,190 shares or 0.25% of their US portfolio. Comml Bank Of Montreal Can has 0% invested in the company for 4,048 shares. Blackrock Advsrs Ltd Co reported 5,555 shares or 0% of all its holdings. Blackrock Inv Mgmt Lc, a New Jersey-based fund reported 108,250 shares. Ubs Asset Management Americas holds 0% of its portfolio in Mercury General Corporation (NYSE:MCY) for 27,344 shares.
More important recent Mercury General Corporation (NYSE:MCY) news were published by: Prnewswire.com which released: “Mercury General Corporation Announces Third Quarter Results and Increases …” on October 31, 2016, also Prnewswire.com published article titled: “Mercury General Corporation Announces Second Quarter Results and Declares …”, Prnewswire.com published: “Mercury General Corporation To Report Third Quarter Results On October 31, 2016” on October 05, 2016. More interesting news about Mercury General Corporation (NYSE:MCY) was released by: Prnewswire.com and their article: “Mercury General Corporation To Report Third Quarter Results On November 2, 2015” with publication date: October 05, 2015.
MCY Company Profile
Mercury General Corporation, incorporated on January 20, 1961, is an insurance holding company. The Firm is engaged in writing personal automobile insurance through approximately 10 insurance subsidiaries in over 10 states. The Firm operates through Property and Casualty business segment. The Firm also writes homeowners, commercial automobile, commercial property, mechanical breakdown and umbrella insurance. The Firm offers a range of automobile coverage, such as collision, property damage, bodily injury (BI), comprehensive, personal injury protection (PIP), underinsured and uninsured motorist, and other hazards. The Firm offers a range of homeowner’s coverage, such as dwelling, liability, personal property, fire and other hazards. The Firm has activities in Arizona, California, Florida, Georgia, Illinois, Michigan, Nevada, New Jersey, New York, Oklahoma, Pennsylvania, Texas and Virginia. The Firm offers standard, non-standard, and preferred private passenger automobile insurance in approximately 10 states.
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