The Hanover Insurance Group, Inc. (NYSE:THG) Stock Rating Upgraded by BidaskClub
The Hanover Insurance Group, Inc. (NYSE:THG) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
A number of other research analysts also recently weighed in on the company. Zacks Investment Research downgraded The Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Keefe, Bruyette & Woods restated a “sell” rating and issued a $81.00 price target on shares of The Hanover Insurance Group in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $93.00.
Shares of The Hanover Insurance Group (THG) traded up 0.74% on Tuesday, reaching $98.15. The company’s stock had a trading volume of 140,083 shares. The Hanover Insurance Group has a 12-month low of $74.06 and a 12-month high of $98.49. The company’s 50 day moving average price is $89.75 and its 200 day moving average price is $87.76. The company has a market cap of $4.17 billion, a P/E ratio of 21.08 and a beta of 1.14.
The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, August 2nd. The insurance provider reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.14. The Hanover Insurance Group had a return on equity of 5.83% and a net margin of 3.95%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the business earned $0.05 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts forecast that The Hanover Insurance Group will post $6.11 EPS for the current fiscal year.
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In related news, insider John C. Roche sold 17,500 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $96.00, for a total value of $1,680,000.00. Following the sale, the insider now owns 42,524 shares in the company, valued at approximately $4,082,304. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider J Kendall Huber sold 20,960 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $97.33, for a total value of $2,040,036.80. Following the completion of the sale, the insider now owns 34,079 shares in the company, valued at approximately $3,316,909.07. The disclosure for this sale can be found here. Corporate insiders own 1.08% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in The Hanover Insurance Group by 8,831.8% in the first quarter. BlackRock Inc. now owns 3,500,184 shares of the insurance provider’s stock valued at $315,226,000 after buying an additional 3,460,996 shares during the last quarter. Citadel Advisors LLC increased its stake in The Hanover Insurance Group by 2,022.2% in the first quarter. Citadel Advisors LLC now owns 534,945 shares of the insurance provider’s stock valued at $48,177,000 after buying an additional 509,738 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in The Hanover Insurance Group by 2,199.6% in the second quarter. BNP Paribas Arbitrage SA now owns 375,034 shares of the insurance provider’s stock valued at $33,239,000 after buying an additional 358,725 shares during the last quarter. Macquarie Group Ltd. increased its stake in The Hanover Insurance Group by 1,710.4% in the first quarter. Macquarie Group Ltd. now owns 369,319 shares of the insurance provider’s stock valued at $33,261,000 after buying an additional 348,919 shares during the last quarter. Finally, Boston Partners increased its stake in The Hanover Insurance Group by 73.4% in the first quarter. Boston Partners now owns 594,267 shares of the insurance provider’s stock valued at $53,520,000 after buying an additional 251,620 shares during the last quarter. Institutional investors own 84.14% of the company’s stock.
About The Hanover Insurance Group
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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