Shares of Mercury General Corp. (NYSE:MCY) saw an uptick in trading volume on Friday . 702,245 shares were traded during mid-day trading, an increase of 340% from the previous session’s volume of 159,593 shares.The stock last traded at $55.37 and had previously closed at $56.02.

A number of equities research analysts have recently issued reports on MCY shares. Zacks Investment Research cut Mercury General Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 20th. Compass Point restated a “neutral” rating and issued a $55.00 price target (up previously from $50.00) on shares of Mercury General Corp. in a research note on Tuesday, May 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $52.67.

The stock has a 50 day moving average of $53.30 and a 200-day moving average of $52.02. The company has a market cap of $3.06 billion and a P/E ratio of 42.66.

Mercury General Corp. (NYSE:MCY) last announced its earnings results on Monday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. On average, equities research analysts anticipate that Mercury General Corp. will post $1.99 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.48%.

Other hedge funds and institutional investors recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Mercury General Corp. by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,103,212 shares of the company’s stock valued at $51,378,000 after buying an additional 46,529 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Mercury General Corp. by 0.6% in the fourth quarter. Advisors Asset Management Inc. now owns 24,864 shares of the company’s stock valued at $1,158,000 after buying an additional 159 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Mercury General Corp. by 11.4% in the fourth quarter. Wells Fargo & Company MN now owns 264,328 shares of the company’s stock valued at $12,310,000 after buying an additional 26,973 shares during the last quarter. Liberty Mutual Group Asset Management Inc. boosted its position in shares of 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 valued at $1,093,000 after buying an additional 7,979 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Mercury General Corp. by 0.4% in the fourth quarter. Rhumbline Advisers now owns 49,489 shares of the company’s stock valued at $2,305,000 after buying an additional 180 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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