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

Zacks Research lowered shares of The Hanover Insurance Group (NYSE:THG) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages also recently weighed in on THG. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a research report on Thursday, April 30th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $220.00 target price (up from $211.00) on shares of The Hanover Insurance Group in a research note on Wednesday. BMO Capital Markets lowered The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $194.00 to $203.00 in a report on Tuesday, May 19th. Morgan Stanley lifted their price target on The Hanover Insurance Group from $220.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Weiss Ratings raised The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, May 22nd. One equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $212.57.

The Hanover Insurance Group Stock Down 2.6%

THG stock opened at $212.84 on Tuesday. The company has a market capitalization of $7.45 billion, a P/E ratio of 10.71 and a beta of 0.28. The Hanover Insurance Group has a 12 month low of $162.43 and a 12 month high of $225.29. The firm’s fifty day simple moving average is $197.38 and its 200-day simple moving average is $183.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.14 by $1.11. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.87 earnings per share. As a group, equities research analysts forecast that The Hanover Insurance Group will post 18.38 earnings per share for the current year.

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

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.95 per share. The ex-dividend date was Friday, June 12th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.8%. The Hanover Insurance Group’s dividend payout ratio (DPR) is 19.12%.

Insider Buying and Selling

In other news, Director Cynthia Egan sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $188.50, for a total value of $640,900.00. Following the completion of the sale, the director directly owned 9,359 shares in the company, valued at $1,764,171.50. The trade was a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John C. Roche sold 8,358 shares of the company’s stock in a transaction that occurred on 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 directly owned 141,011 shares of the company’s stock, valued at approximately $27,319,471.14. The trade was a 5.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,508 shares of company stock worth $5,704,651 in the last ninety days. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

A number of institutional investors have recently added to or reduced their stakes in THG. Millennium Management LLC lifted its holdings in The Hanover Insurance Group by 61.0% during the first quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock valued at $15,371,000 after purchasing an additional 33,495 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of The Hanover Insurance Group by 1,568.9% during the first quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock worth $131,000 after purchasing an additional 706 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of The Hanover Insurance Group by 21.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock worth $38,052,000 after purchasing an additional 38,905 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of The Hanover Insurance Group by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock worth $22,445,000 after purchasing an additional 7,712 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in The Hanover Insurance Group by 7.7% in the 2nd quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock valued at $48,155,000 after buying an additional 20,294 shares in the last quarter. Institutional investors and hedge funds 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.