Hanover Insurance Group (NYSE:THG) Lowered to “Hold” at Zacks Investment Research

Hanover Insurance Group (NYSE:THG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, January 10th.

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 issued a $91.00 price objective on shares of Hanover Insurance Group in a report on Friday, October 6th.

Hanover Insurance Group (NYSE:THG) opened at $111.92 on Wednesday. Hanover Insurance Group has a 12 month low of $79.23 and a 12 month high of $116.32. The stock has a market capitalization of $4,887.08, a PE ratio of 24.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.45 and a current ratio of 0.48.

Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, January 31st. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $0.15. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Hanover Insurance Group had a return on equity of 6.88% and a net margin of 3.59%. Hanover Insurance Group’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned ($0.46) earnings per share. sell-side analysts anticipate that Hanover Insurance Group will post 8.55 EPS for the current fiscal year.

In other news, insider Mark Lowell Keim sold 4,966 shares of Hanover Insurance Group stock in a transaction that occurred on Wednesday, November 29th. The shares were 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 $535,334.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.08% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Hanover Insurance Group by 8.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,576 shares of the insurance provider’s stock valued at $140,000 after purchasing an additional 120 shares during the last quarter. Zacks Investment Management lifted its holdings in shares of Hanover Insurance Group by 1.3% during the second quarter. Zacks Investment Management now owns 11,089 shares of the insurance provider’s stock valued at $983,000 after purchasing an additional 145 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Hanover Insurance Group by 1.8% during the second quarter. Ameritas Investment Partners Inc. now owns 12,770 shares of the insurance provider’s stock valued at $1,132,000 after purchasing an additional 229 shares during the last quarter. ETRADE Capital Management LLC lifted its holdings in shares of Hanover Insurance Group by 4.3% during the second quarter. ETRADE Capital Management LLC now owns 7,575 shares of the insurance provider’s stock valued at $671,000 after purchasing an additional 309 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Hanover Insurance Group by 4.6% during the second quarter. PNC Financial Services Group Inc. now owns 7,181 shares of the insurance provider’s stock valued at $636,000 after purchasing an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 83.84% of the company’s stock.

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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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