Zacks Research Downgrades The Hanover Insurance Group (NYSE:THG) to Hold

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

Other equities research analysts have also recently issued research reports about the company. Royal Bank Of Canada boosted their target price on The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Citizens Jmp lifted their price objective on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the company a “market outperform” rating in a report on Thursday, April 30th. Morgan Stanley boosted their price objective on shares of The Hanover Insurance Group from $220.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Oppenheimer increased their target price on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Finally, Weiss Ratings raised shares of The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, May 22nd. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.57.

The Hanover Insurance Group Price Performance

THG stock opened at $212.84 on Tuesday. The stock has a 50-day moving average price of $197.38 and a two-hundred day moving average price of $183.46. The Hanover Insurance Group has a 1 year low of $162.43 and a 1 year high of $225.29. The stock has a market cap of $7.45 billion, a PE ratio of 10.71 and a beta of 0.28. 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 (NYSE:THG) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $4.14 by $1.11. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.87 earnings per share. Equities analysts forecast that The Hanover Insurance Group will post 18.38 EPS for the current fiscal year.

The Hanover Insurance Group announced that its Board of Directors has authorized a stock repurchase program on Wednesday, May 13th that allows the company to buyback $700.00 million in shares. This buyback authorization allows the insurance provider to purchase up to 10.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other The Hanover Insurance Group news, CEO John C. Roche sold 8,358 shares of The Hanover Insurance Group stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Cynthia Egan sold 3,400 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $188.50, for a total value of $640,900.00. Following the transaction, the director directly owned 9,359 shares of the company’s stock, valued at approximately $1,764,171.50. The trade was a 26.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,508 shares of company stock valued at $5,704,651 over the last ninety days. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Longboard Asset Management LP acquired a new stake in The Hanover Insurance Group in the second quarter valued at approximately $230,000. Assenagon Asset Management S.A. acquired a new position in shares of The Hanover Insurance Group during the second quarter worth $7,374,000. GAMMA Investing LLC lifted its stake in shares of The Hanover Insurance Group by 19.2% in the 2nd quarter. GAMMA Investing LLC now owns 868 shares of the insurance provider’s stock valued at $186,000 after acquiring an additional 140 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of The Hanover Insurance Group by 8.4% in the 2nd quarter. Versant Capital Management Inc now owns 861 shares of the insurance provider’s stock valued at $184,000 after acquiring an additional 67 shares during the last quarter. Finally, CX Institutional boosted its holdings in shares of The Hanover Insurance Group by 8.3% during the 2nd quarter. CX Institutional now owns 36,544 shares of the insurance provider’s stock valued at $7,825,000 after acquiring an additional 2,814 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.

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.