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Last Price: 52.03 - Change: -1.34 - Change %: -2.5108
04/17/2024 16:10:00 EST

Mercury General Corporation (MCY)

Industry: Insurance - Property & Casualty

Price Support Resistance

In the past 20 trading days, MCY has been trading in a range between $52.85 and $47.88 (gray range band). Red lines on the chart represent key resistance levels and Green lines represent key support levels. As the price moves above the lines you will notice they turn green and red if price moves below a line.

MCY is trading below resistance at $52.85, about 2% to the upside. There is support at $46.18 -11% to the downside. If it can break above the resistance, it could have some more upside. If the price starts to turn down and fails to get through this level or enters a yellow zone, we would consider profit taking or exiting the position. If it enters a red zone on the chart we would exit the position.

Upside / Downside Potential

Mercury General Corporation $MCY entered a Green zone 48 days ago on the AI powered stock chart. Wall Street analysts have an AVG target price $33, a potential down side of -36.58% from the recent price of 52.03. Our AI powered stock target predictor currently has a target price of $32.98 a potential move of -37%. The stock is trading 4.92% (potential upside) below its 52 week high of $54.59 and 106.3 % (potential downside) above its 52 week low of $25.22 - based on the recent price.

Company Summary

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.

MCY Website

News

MERCURY GENERAL CORPORATION TO REPORT FIRST QUARTER RESULTS ON APRIL 30, 2024
LOS ANGELES , April 9, 2024 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today that after the markets close on Tuesday, April 30, 2024, the Company will issue an earnings press release reporting its results for the first quarter of 2024, and will also file its quarterly report on Form 10-Q with the Securities and Exchange Commission.  The earnings press release should be read in conjunction with the Company's quarterly report on Form 10-Q.
Source: PRNewsWire
Tue, 09 Apr 2024 17:39:00 -0400
Sentiment: Neutral
Bodily Injury Costs Increase in Texas, According to Mercury Insurance
Mercury's new umbrella insurance better protects Texans' personal wealth against bodily injury claims LOS ANGELES , April 3, 2024 /PRNewswire/ -- Multi-vehicle crashes, dog bites or a delivery person being injured on your property are some of the unexpected events that are putting Texans' personal financial health at risk. In fact, bodily injury payouts continue to climb year over year since the pandemic started, with the average amount for a liability claim increasing by 35%, according to Mercury Insurance  (NYSE: MCY).
Source: PRNewsWire
Wed, 03 Apr 2024 12:00:00 -0400
Sentiment: Neutral
Mercury General (MCY) is a Great Momentum Stock: Should You Buy?
Does Mercury General (MCY) have what it takes to be a top stock pick for momentum investors? Let's find out.
Source: Zacks Investment Research
Tue, 02 Apr 2024 13:01:22 -0400
Sentiment: Positive
Mercury Insurance Offers New Coverages and Discounts in New Jersey
Mercury's new added protection comes with environmentally friendly perks, while discounts put hard-earned money back in the pockets of policyholders  LOS ANGELES , April 2, 2024 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) today announces three new coverages and four new discounts that are available for homeowners or renters in New Jersey. Mercury's new coverages provide additional insurance protections with an option for environmentally friendly replacement products.
Source: PRNewsWire
Tue, 02 Apr 2024 12:00:00 -0400
Sentiment: Neutral
Mercury Insurance Shares 4 Ways to Achieve Financial Empowerment in 2024
Reevaluating Monthly Expenses like Insurance is Crucial to Savings LOS ANGELES , March 29, 2024 /PRNewswire/ -- Finances are consistently a top concern for many Americans, with "saving money" among the top 10 most common New Year's resolutions. This year, Americans are more concerned than ever due to the uncertainty created by high inflation, rising interest rates, lack of income growth and dwindling savings.
Source: PRNewsWire
Fri, 29 Mar 2024 12:00:00 -0400
Sentiment: Neutral
Instituions Institution %: 43.387
Last QTR Institution change: 594510

Insiders
Insiders %: 52.042
Insiders Purchases last QTR: 500
Insiders Sales last QTR: 0
Insiders Net last QTR: 500

Analyst Ratings
Target Price: 33
Overall Rating: 4
Strong Buys (5): 0
Buys (4): 1
Holds (3): 0
Sells (2): 0
Strong Sells (1): 0

Technicals
52 Week Hi: 54.5909
52 Week Low: 25.2155
Beta: 0.807
50 Day MA: 48.0772
200 Day MA: 36.9249

Earnings / Revenue Trends
Qtr Earnings Growth YOY: -0.817
Qtr Revenue Growth YOY: 0.199
Forward PE: 0
Trailing PE: 30.6724

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