Hanover Insurance Group (NYSE:THG) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Hanover Insurance Group (NYSE:THG) from a hold rating to a buy rating in a research report report published on Friday, ValuEngine reports.

THG has been the subject of several other reports. Zacks Investment Research upgraded Hanover Insurance Group from a hold rating to a buy rating and set a $136.00 target price for the company in a report on Tuesday, May 7th. Compass Point began coverage on Hanover Insurance Group in a report on Friday, March 1st. They issued a buy rating and a $118.71 price objective for the company. Six research analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and an average price target of $131.93.

Shares of THG stock opened at $127.52 on Friday. The stock has a market cap of $5.19 billion, a P/E ratio of 18.78 and a beta of 0.65. Hanover Insurance Group has a 1-year low of $104.59 and a 1-year high of $131.44. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.17. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Hanover Insurance Group had a return on equity of 11.02% and a net margin of 9.19%. Hanover Insurance Group’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.54 EPS. As a group, equities research analysts expect that Hanover Insurance Group will post 8.1 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Friday, June 7th. Hanover Insurance Group’s dividend payout ratio (DPR) is currently 35.35%.

In other Hanover Insurance Group news, EVP Ann Kirkpatrick Tripp sold 1,777 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $121.57, for a total value of $216,029.89. Following the completion of the sale, the executive vice president now owns 18,285 shares in the company, valued at approximately $2,222,907.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider J Kendall Huber sold 23,261 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $121.51, for a total value of $2,826,444.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,553 shares of company stock valued at $4,076,281. Company insiders own 1.65% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. lifted its holdings in Hanover Insurance Group by 2.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 4,186 shares of the insurance provider’s stock worth $478,000 after buying an additional 90 shares during the period. Resources Investment Advisors Inc. lifted its holdings in Hanover Insurance Group by 80.1% in the 1st quarter. Resources Investment Advisors Inc. now owns 362 shares of the insurance provider’s stock worth $41,000 after buying an additional 161 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in Hanover Insurance Group by 204.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the insurance provider’s stock worth $36,000 after buying an additional 209 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Hanover Insurance Group by 1.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,906 shares of the insurance provider’s stock worth $1,930,000 after buying an additional 209 shares during the period. Finally, Lindbrook Capital LLC purchased a new stake in Hanover Insurance Group in the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 85.15% of the company’s stock.

Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.

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