NEW YORK (

TheStreet

) --

Mercury General Corporation

(NYSE:

MCY

) hit a new 52-week high Thursday as it is currently trading at $45.09, above its previous 52-week high of $45.08 with 303,579 shares traded as of 3:20 p.m. ET. Average volume has been 262,300 shares over the past 30 days.

Mercury General has a market cap of $2.3 billion and is part of the

financial

sector and

insurance

industry. Shares are up 0.1% year to date as of the close of trading on Wednesday.

Mercury General Corporation, together with its subsidiaries, engages in writing private passenger and commercial automobile insurance in the United States. The company also writes homeowners, mechanical breakdown, fire, umbrella, and commercial automobile and property insurance. The company has a P/E ratio of 12.2, equal to the average insurance industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Mercury General as a

buy

. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full

Mercury General Ratings Report

.

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