The Hanover Insurance Group, Inc. (THG) Given Hold Rating at Keefe, Bruyette & Woods
The Hanover Insurance Group, Inc. (NYSE:THG)‘s stock had its “hold” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a report released on Thursday. They currently have a $91.00 price objective on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 2.71% from the company’s current price.
Several other brokerages have also issued reports on THG. Zacks Investment Research raised The Hanover Insurance Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. BidaskClub raised The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $96.75.
Shares of The Hanover Insurance Group (THG) traded down 3.96% during mid-day trading on Thursday, hitting $88.60. 291,785 shares of the company were exchanged. The Hanover Insurance Group has a 12-month low of $74.06 and a 12-month high of $100.33. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 19.17 and a beta of 1.14. The firm has a 50 day moving average of $96.65 and a 200 day moving average of $89.85.
The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $1.30 billion. During the same period in the previous year, the firm earned $0.05 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts forecast that The Hanover Insurance Group will post $6.16 earnings per share for the current year.
In other news, 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 transaction of $2,040,036.80. Following the transaction, the insider now directly owns 34,079 shares of the company’s stock, valued at $3,316,909.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the insider now directly owns 42,524 shares in the company, valued at $4,082,304. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,630 shares of company stock worth $4,913,611. Insiders own 1.08% of the company’s stock.
Large investors have recently modified their holdings of the company. Credit Agricole S A purchased a new stake in The Hanover Insurance Group in the 4th quarter valued at $102,000. Pacad Investment Ltd. purchased a new stake in The Hanover Insurance Group in the 4th quarter valued at $137,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in The Hanover Insurance Group by 8.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,576 shares of the insurance provider’s stock valued at $140,000 after buying an additional 120 shares during the last quarter. Huntington Asset Advisors Inc. purchased a new stake in The Hanover Insurance Group in the 1st quarter valued at $171,000. Finally, Envestnet Asset Management Inc. raised its position in The Hanover Insurance Group by 16.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,093 shares of the insurance provider’s stock valued at $189,000 after buying an additional 298 shares during the last quarter. 84.44% of the stock is currently owned by institutional investors.
The 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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