The Hanover Insurance Group Inc. (THG) Rating Increased to Buy at Zacks Investment Research
The Hanover Insurance Group Inc. (NYSE:THG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $88.00 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 11.41% from the stock’s previous close.
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. “
THG has been the subject of a number of other research reports. BMO Capital Markets restated an “outperform” rating and set a $94.00 target price (down previously from $99.00) on shares of The Hanover Insurance Group in a research report on Wednesday, August 3rd. JMP Securities restated an “outperform” rating and set a $95.00 target price on shares of The Hanover Insurance Group in a research report on Monday, September 12th.
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The Hanover Insurance Group (NYSE:THG) opened at 78.99 on Tuesday. The stock has a market cap of $3.38 billion, a PE ratio of 14.71 and a beta of 1.01. The Hanover Insurance Group has a 52-week low of $74.06 and a 52-week high of $91.30. The firm has a 50 day moving average of $76.54 and a 200-day moving average of $82.32.
The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.02. The business earned $1.22 billion during the quarter, compared to analyst estimates of $1.23 billion. The Hanover Insurance Group had a net margin of 4.83% and a return on equity of 9.51%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 earnings per share. Equities analysts anticipate that The Hanover Insurance Group will post $5.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.84 annualized dividend and a yield of 2.33%. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 34.39%.
In other The Hanover Insurance Group news, insider Christine Bilotti-Peterson sold 3,600 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $82.31, for a total transaction of $296,316.00. Following the completion of the transaction, the insider now owns 6,390 shares in the company, valued at $525,960.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.49% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in THG. Tower Research Capital LLC TRC raised its position in The Hanover Insurance Group by 65.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,274 shares of the company’s stock valued at $192,000 after buying an additional 899 shares during the period. Zacks Investment Management purchased a new stake in shares of The Hanover Insurance Group during the second quarter valued at $212,000. LS Investment Advisors LLC increased its stake in shares of The Hanover Insurance Group by 72.4% in the second quarter. LS Investment Advisors LLC now owns 2,567 shares of the company’s stock valued at $217,000 after buying an additional 1,078 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of The Hanover Insurance Group by 1.4% in the second quarter. Hsbc Holdings PLC now owns 2,667 shares of the company’s stock valued at $225,000 after buying an additional 38 shares in the last quarter. Finally, Boston Financial Mangement LLC purchased a new stake in shares of The Hanover Insurance Group during the second quarter valued at $247,000. Institutional investors and hedge funds own 82.92% of the company’s stock.
The Hanover Insurance Group Company Profile
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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