The Hanover Insurance Group (NYSE:THG) Rating Lowered to Hold at Zacks Research

The Hanover Insurance Group (NYSE:THG) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

THG has been the topic of several other research reports. Royal Bank Of Canada raised their price target on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Piper Sandler boosted their price objective on The Hanover Insurance Group from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Citizens Jmp increased their price objective on The Hanover Insurance Group from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Thursday, April 30th. Morgan Stanley raised their target price on The Hanover Insurance Group from $220.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $212.57.

The Hanover Insurance Group Stock Performance

NYSE THG opened at $212.84 on Tuesday. The company has a market cap of $7.45 billion, a P/E ratio of 10.71 and a beta of 0.28. The company has a fifty day simple moving average of $197.38 and a 200 day simple moving average of $183.46. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group has a 12-month low of $162.43 and a 12-month high of $225.29.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.14 by $1.11. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.87 earnings per share. Sell-side analysts predict that The Hanover Insurance Group will post 18.38 earnings per share for the current fiscal year.

The Hanover Insurance Group announced that its board has approved a stock buyback plan on Wednesday, May 13th that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the insurance provider to reacquire up to 10.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, CEO John C. Roche sold 8,358 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.74, for a total value of $1,619,278.92. Following the transaction, the chief executive officer owned 141,011 shares in the company, valued at $27,319,471.14. The trade was a 5.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Francisco Aristeguieta sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $195.37, for a total value of $195,370.00. Following the completion of the transaction, the director directly owned 4,053 shares of the company’s stock, valued at approximately $791,834.61. This represents a 19.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 29,508 shares of company stock worth $5,704,651. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in THG. JPL Wealth Management LLC bought a new stake in The Hanover Insurance Group in the third quarter worth about $26,000. Community Bank N.A. bought a new position in shares of The Hanover Insurance Group during the 3rd quarter valued at approximately $27,000. McMillan Office Inc. purchased a new stake in shares of The Hanover Insurance Group during the 4th quarter worth approximately $31,000. Entrust Financial LLC bought a new stake in shares of The Hanover Insurance Group in the 4th quarter worth approximately $33,000. Finally, Root Financial Partners LLC lifted its stake in The Hanover Insurance Group by 69.3% in the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 97 shares during the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.