Hanover Insurance Group (THG) Rating Lowered to Hold at Zacks Investment Research

Hanover Insurance Group (NYSE:THG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday.

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. “

Separately, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $91.00 price target on shares of Hanover Insurance Group in a research note on Friday, October 6th.

Hanover Insurance Group (THG) traded up $0.69 during mid-day trading on Wednesday, hitting $108.01. 198,100 shares of the company were exchanged, compared to its average volume of 158,967. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.45 and a quick ratio of 0.45. Hanover Insurance Group has a 12-month low of $79.23 and a 12-month high of $109.61. The stock has a market capitalization of $4,560.00, a price-to-earnings ratio of 37.37 and a beta of 1.14.

Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, November 1st. The insurance provider reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.74. Hanover Insurance Group had a net margin of 2.37% and a return on equity of 3.35%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the firm earned $1.83 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. sell-side analysts forecast that Hanover Insurance Group will post 4.65 earnings per share for the current fiscal year.

In other Hanover Insurance Group news, insider Mark Lowell Keim sold 4,966 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $107.80, for a total value of $535,334.80. Following the transaction, the insider now directly owns 4,966 shares in the company, valued at $535,334.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Joseph Welzenbach sold 5,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $103.89, for a total transaction of $519,450.00. Following the completion of the transaction, the insider now owns 29,521 shares in the company, valued at $3,066,936.69. The disclosure for this sale can be found here. Insiders sold 14,689 shares of company stock worth $1,555,848 over the last quarter. 1.08% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in THG. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Hanover Insurance Group by 8.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,576 shares of the insurance provider’s stock worth $140,000 after acquiring an additional 120 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Hanover Insurance Group during the third quarter worth approximately $180,000. Parametrica Management Ltd purchased a new position in shares of Hanover Insurance Group during the third quarter worth approximately $235,000. Raymond James Trust N.A. purchased a new position in shares of Hanover Insurance Group during the second quarter worth approximately $236,000. Finally, Jane Street Group LLC purchased a new position in shares of Hanover Insurance Group during the third quarter worth approximately $265,000. Institutional investors and hedge funds own 83.76% of the company’s stock.

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Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc is a holding company. The Company is engaged in providing property and casualty insurance products and services. The Company has four segments: Commercial Lines, Personal Lines, Chaucer and Other. It markets its domestic products and services through independent agents and brokers in the United States, and conducts business internationally through a subsidiary, Chaucer Holdings Limited, which operates through the Society and Corporation of Lloyd’s (Lloyd’s).

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