Hanover Insurance Group (THG) Upgraded by Zacks Investment Research to “Strong-Buy”

Hanover Insurance Group (NYSE:THG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Saturday. The brokerage currently has a $128.00 target price on the insurance provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 14.01% from the company’s current price.

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. “

Separately, Keefe, Bruyette & Woods restated a “hold” rating and set a $91.00 target price on shares of Hanover Insurance Group in a research report on Friday, October 6th.

Hanover Insurance Group (NYSE THG) traded up $1.00 during trading hours on Friday, hitting $112.27. The company’s stock had a trading volume of 74,974 shares, compared to its average volume of 150,549. The stock has a market capitalization of $4,726.19, a P/E ratio of 39.81 and a beta of 1.14. Hanover Insurance Group has a 12-month low of $79.23 and a 12-month high of $113.34. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.26.

Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, November 1st. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.74. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.29 billion. Hanover Insurance Group had a return on equity of 3.35% and a net margin of 2.37%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.83 earnings per share. equities analysts forecast that Hanover Insurance Group will post 4.65 earnings per share for the current year.

In other news, insider Mark Joseph Welzenbach sold 4,723 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $106.09, for a total value of $501,063.07. Following the transaction, the insider now owns 29,244 shares of the company’s stock, valued at $3,102,495.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark Lowell Keim sold 4,966 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $107.80, for a total transaction of $535,334.80. Following the completion of the transaction, the insider now directly owns 4,966 shares in the company, valued at approximately $535,334.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,689 shares of company stock worth $1,555,848. Insiders own 1.08% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in THG. Schwab Charles Investment Management Inc. increased its holdings in shares of Hanover Insurance Group by 9.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 201,048 shares of the insurance provider’s stock worth $17,819,000 after purchasing an additional 18,070 shares during the period. BlackRock Inc. increased its holdings in shares of Hanover Insurance Group by 0.5% in the second quarter. BlackRock Inc. now owns 3,518,780 shares of the insurance provider’s stock worth $311,870,000 after purchasing an additional 18,596 shares during the period. Amalgamated Bank increased its holdings in shares of Hanover Insurance Group by 24.3% in the second quarter. Amalgamated Bank now owns 8,337 shares of the insurance provider’s stock worth $739,000 after purchasing an additional 1,631 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Hanover Insurance Group by 4.6% in the second quarter. PNC Financial Services Group Inc. now owns 7,181 shares of the insurance provider’s stock worth $636,000 after purchasing an additional 319 shares during the period. Finally, Mutual of America Capital Management LLC increased its holdings in shares of Hanover Insurance Group by 4.4% in the second quarter. Mutual of America Capital Management LLC now owns 35,113 shares of the insurance provider’s stock worth $3,112,000 after purchasing an additional 1,481 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

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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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