Hanover Insurance Group Inc (NYSE:THG) – Langen Mcalenn boosted their FY2018 EPS estimates for Hanover Insurance Group in a report released on Tuesday, Zacks Investment Research reports. Langen Mcalenn analyst L. Greenberg now anticipates that the insurance provider will post earnings per share of $8.45 for the year, up from their prior forecast of $7.15.
Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.15. Hanover Insurance Group had a return on equity of 6.88% and a net margin of 3.59%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business posted ($0.46) earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year.
Separately, Zacks Investment Research upgraded shares of Hanover Insurance Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th.
Hanover Insurance Group (THG) traded up $1.58 during midday trading on Friday, hitting $108.19. 156,550 shares of the company traded hands, compared to its average volume of 193,026. The company has a current ratio of 0.48, a quick ratio of 0.45 and a debt-to-equity ratio of 0.26. Hanover Insurance Group has a twelve month low of $79.23 and a twelve month high of $116.32. The company has a market capitalization of $4,560.00, a PE ratio of 22.70 and a beta of 1.11.
In related news, insider Mark Lowell Keim sold 4,966 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $107.80, for a total value of $535,334.80. Following the completion of the sale, the insider now owns 4,966 shares in the company, valued at $535,334.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.08% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. bought a new stake in shares of Hanover Insurance Group in the third quarter valued at about $56,542,000. CNA Financial Corp bought a new position in Hanover Insurance Group during the third quarter worth about $791,000. State of Tennessee Treasury Department bought a new position in Hanover Insurance Group during the third quarter worth about $1,939,000. Magnetar Financial LLC bought a new position in Hanover Insurance Group during the third quarter worth about $1,199,000. Finally, California Public Employees Retirement System lifted its stake in Hanover Insurance Group by 6.7% during the third quarter. California Public Employees Retirement System now owns 130,564 shares of the insurance provider’s stock worth $12,656,000 after purchasing an additional 8,154 shares during the period. Institutional investors and hedge funds own 83.05% of the company’s stock.
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About 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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