Hanover Insurance Group (NYSE:THG) Lowered to “Hold” at ValuEngine

ValuEngine cut shares of Hanover Insurance Group (NYSE:THG) from a buy rating to a hold rating in a research note published on Thursday morning, ValuEngine reports.

Separately, Zacks Investment Research raised Hanover Insurance Group from a hold rating to a buy rating and set a $136.00 price objective for the company in a research report on Tuesday, May 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Hanover Insurance Group currently has an average rating of Buy and an average target price of $129.24.

Shares of NYSE:THG traded up $0.61 on Thursday, hitting $130.49. 155,632 shares of the company’s stock were exchanged, compared to its average volume of 192,293. The stock’s 50-day moving average is $128.95. The stock has a market capitalization of $5.29 billion, a P/E ratio of 19.22 and a beta of 0.62. Hanover Insurance Group has a 1-year low of $104.59 and a 1-year high of $131.96. 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 released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.05. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Hanover Insurance Group had a return on equity of 10.44% and a net margin of 8.97%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 EPS. Equities analysts predict that Hanover Insurance Group will post 8.1 EPS for the current fiscal year.

Hanover Insurance Group announced that its board has authorized a stock buyback plan on Thursday, June 27th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

In other news, insider Bryan J. Salvatore sold 688 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $126.79, for a total value of $87,231.52. Following the completion of the sale, the insider now directly owns 6,771 shares of the company’s stock, valued at approximately $858,495.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ann Kirkpatrick Tripp sold 3,515 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $121.78, for a total value of $428,056.70. Following the completion of the sale, the insider now directly owns 18,285 shares of the company’s stock, valued at $2,226,747.30. The disclosure for this sale can be found here. Insiders sold a total of 32,464 shares of company stock valued at $3,947,482 over the last three months. Company insiders own 1.65% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan raised its stake in Hanover Insurance Group by 1.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,500 shares of the insurance provider’s stock valued at $962,000 after acquiring an additional 80 shares during the last quarter. 6 Meridian raised its stake in Hanover Insurance Group by 2.0% during the 2nd quarter. 6 Meridian now owns 4,392 shares of the insurance provider’s stock valued at $563,000 after acquiring an additional 85 shares during the last quarter. Creative Planning raised its stake in Hanover Insurance Group by 2.4% during the 2nd quarter. Creative Planning now owns 3,797 shares of the insurance provider’s stock valued at $487,000 after acquiring an additional 88 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Hanover Insurance Group by 2.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 4,186 shares of the insurance provider’s stock valued at $478,000 after acquiring an additional 90 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Hanover Insurance Group by 55.2% during the 2nd quarter. Signaturefd LLC now owns 346 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 123 shares during the last quarter. 85.13% of the stock is owned by institutional investors and hedge funds.

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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