Zacks Investment Research Upgrades The Hanover Insurance Group Inc. (THG) to “Hold”
The Hanover Insurance Group Inc. (NYSE:THG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Allmerica Financial Corp. is a non-insurance holding company. The Company offers financial products and services in two major areas: Risk Management and Asset Accumulation. Within these broad areas, the Company conducts business principally in three operating segments. These segments are Risk Management, Allmerica Financial Services, and Allmerica Asset Management. In addition to the three operating segments, the Company also has a Corporate segment, which consists primarily of cash, investments, Corporate debt and Capital Securities. “
Other equities analysts have also issued reports about the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $99.00 price objective (up from $98.00) on shares of The Hanover Insurance Group in a research note on Tuesday, July 12th. JMP Securities reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of The Hanover Insurance Group in a research note on Monday, September 12th.
The Hanover Insurance Group (NYSE:THG) opened at 76.95 on Thursday. The firm’s 50-day moving average price is $76.46 and its 200-day moving average price is $82.90. The firm has a market cap of $3.29 billion, a P/E ratio of 14.33 and a beta of 1.01. The Hanover Insurance Group has a 52-week low of $74.06 and a 52-week high of $91.30.
The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.02. The Hanover Insurance Group had a return on equity of 9.51% and a net margin of 4.83%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the firm posted $1.56 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts expect that The Hanover Insurance Group will post $5.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.46 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $1.84 dividend on an annualized basis and a yield of 2.39%. The Hanover Insurance Group’s payout ratio is currently 34.39%.
In other The Hanover Insurance Group news, insider Christine Bilotti-Peterson sold 3,600 shares of The Hanover Insurance Group stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $82.31, for a total value of $296,316.00. Following the completion of the sale, the insider now directly owns 6,390 shares in the company, valued at $525,960.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.49% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Huntington Asset Advisors Inc. acquired a new stake in shares of The Hanover Insurance Group during the first quarter worth $171,000. Tower Research Capital LLC TRC increased its stake in shares of The Hanover Insurance Group by 65.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,274 shares of the company’s stock worth $192,000 after buying an additional 899 shares during the last quarter. Zacks Investment Management acquired a new stake in shares of The Hanover Insurance Group during the second quarter worth $212,000. LS Investment Advisors LLC increased its stake in shares of The Hanover Insurance Group by 72.4% in the second quarter. LS Investment Advisors LLC now owns 2,567 shares of the company’s stock worth $217,000 after buying an additional 1,078 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of The Hanover Insurance Group by 1.4% in the second quarter. Hsbc Holdings PLC now owns 2,667 shares of the company’s stock worth $225,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 82.93% of the company’s stock.
About The Hanover Insurance Group
The Hanover Insurance Group, Inc is a holding company. The Company’s primary business operations are property and casualty insurance products and services. The Company operates through four segments: Commercial Lines, Personal Lines, Chaucer and Other. The Company’s Commercial Lines product suite provides agents and customers with products designed for small, middle and specialized markets.
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