Shares of Mercury General Corp. (NYSE:MCY) fell 1.3% during trading on Monday . The stock traded as low as $54.68 and last traded at $54.70, with a volume of 57,985 shares traded. The stock had previously closed at $55.40.

Several brokerages have recently commented on MCY. Zacks Investment Research raised shares of Mercury General Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Compass Point reaffirmed a “neutral” rating and set a $55.00 price objective (up previously from $50.00) on shares of Mercury General Corp. in a research report on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Mercury General Corp. currently has a consensus rating of “Hold” and a consensus price target of $52.67.

The stock’s 50 day moving average is $52.71 and its 200-day moving average is $51.49. The firm has a market capitalization of $3.01 billion and a price-to-earnings ratio of 41.91.

Mercury General Corp. (NYSE:MCY) last released its earnings results on Monday, May 2nd. The company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.54. The company earned $797.70 million during the quarter, compared to the consensus estimate of $794.64 million. Mercury General Corp.’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. On average, analysts forecast that Mercury General Corp. will post $2.04 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were given a $0.62 dividend. The ex-dividend date was Tuesday, June 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.56%.

A number of hedge funds have recently added to or reduced their stakes in MCY. Liberty Mutual Group Asset Management Inc. increased its stake in Mercury General Corp. by 51.5% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 23,459 shares of the company’s stock worth $1,093,000 after buying an additional 7,979 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Mercury General Corp. by 0.6% in the fourth quarter. Advisors Asset Management Inc. now owns 24,864 shares of the company’s stock worth $1,158,000 after buying an additional 159 shares during the last quarter. Retirement Systems of Alabama increased its stake in Mercury General Corp. by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 46,782 shares of the company’s stock worth $2,179,000 after buying an additional 610 shares during the last quarter. Rhumbline Advisers increased its stake in Mercury General Corp. by 0.4% in the fourth quarter. Rhumbline Advisers now owns 49,489 shares of the company’s stock worth $2,305,000 after buying an additional 180 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in Mercury General Corp. by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 51,704 shares of the company’s stock worth $2,408,000 after buying an additional 696 shares during the last quarter.

Mercury General Corporation is an insurance holding company. The Company is engaged in writing personal automobile insurance through approximately 10 insurance subsidiaries in over 10 states. The Company operates through Property and Casualty business segment. The Company also writes homeowners, commercial automobile, commercial property, mechanical breakdown and umbrella insurance.

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