Mercury General (MCY) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
As every American who owns a car and/or a house knows, insurance premiums have been going through the roof this year. Although it’s true the costs of repairing these assets have surged, it appears that insurers’ recent rate hikes are meaningfully increasing their profits. As evidence of the latter point, consider that many of the insurance stocks to buy have jumped tremendously this year. For example, Allstate (NYSE:ALL) has climbed 21% year-to-date. Meanwhile, Progressive (NYSE:PGR) has gained
Mercury General (MCY) closed the most recent trading day at $54.30, moving -1.67% from the previous trading session.