NEW YORK (TheStreet) -- Shares of Mercury General Corp. (MCY) are higher by 3.87% to $49.40 in early morning trading on Monday after the insurance holding company reported a growth in net income to $94.96 million, or $1.73 per diluted share for the 2014 second quarter, compared to a net loss of -$9.26 million, or -17 cents per diluted share for the year ago quarter.
Mercury General's total revenue increased to $807 million for the most recent quarter, up from $643 million for the 2013 second quarter.
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Separately, TheStreet Ratings team rates MERCURY GENERAL CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MERCURY GENERAL CORP (MCY) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow."