The Hanover Insurance Group Inc. (NYSE:THG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report 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. “

Other research analysts have also recently issued reports about the company. JMP Securities reiterated an “outperform” rating and issued a $95.00 price objective on shares of The Hanover Insurance Group in a report on Monday, September 12th. BMO Capital Markets reiterated an “outperform” rating and issued a $94.00 price objective (down from $99.00) on shares of The Hanover Insurance Group in a report on Wednesday, August 3rd.

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Shares of The Hanover Insurance Group (NYSE:THG) traded up 0.96% during mid-day trading on Wednesday, reaching $74.81. The company’s stock had a trading volume of 242,632 shares. The stock has a 50 day moving average of $77.98 and a 200-day moving average of $83.69. The Hanover Insurance Group has a one year low of $74.06 and a one year high of $91.30. The stock has a market cap of $3.20 billion, a P/E ratio of 13.93 and a beta of 0.91.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Thursday, July 28th. The company reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.02. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The Hanover Insurance Group had a return on equity of 9.51% and a net margin of 4.83%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.56 EPS. On average, equities research analysts expect that The Hanover Insurance Group will post $5.93 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, September 14th. The Hanover Insurance Group’s payout ratio is 34.39%.

In other The Hanover Insurance Group news, insider Christine Bilotti-Peterson sold 3,600 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $82.31, for a total value of $296,316.00. Following the sale, the insider now owns 6,390 shares of the company’s stock, valued at $525,960.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.49% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in THG. Northwestern Mutual Investment Management Company LLC raised its stake in The Hanover Insurance Group by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,415 shares of the company’s stock worth $627,000 after buying an additional 27 shares in the last quarter. Mason Street Advisors LLC bought a new stake in The Hanover Insurance Group during the second quarter worth $1,658,000. Royal Bank of Canada raised its stake in The Hanover Insurance Group by 7.3% in the second quarter. Royal Bank of Canada now owns 353,199 shares of the company’s stock worth $29,888,000 after buying an additional 24,118 shares in the last quarter. Calvert Investment Management Inc. raised its stake in The Hanover Insurance Group by 2,284.2% in the second quarter. Calvert Investment Management Inc. now owns 73,530 shares of the company’s stock worth $6,222,000 after buying an additional 70,446 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in The Hanover Insurance Group by 41.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 297,354 shares of the company’s stock worth $25,163,000 after buying an additional 87,016 shares in the last quarter. 82.93% of the stock is currently owned by institutional investors.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc is a holding company. The Company’s primary business operations are property and casualty insurance products and services. The Company operates through four segments: Commercial Lines, Personal Lines, Chaucer and Other. The Company’s Commercial Lines product suite provides agents and customers with products designed for small, middle and specialized markets.

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