Zacks Investment Research lowered shares of Hanover Insurance Group (NYSE:THG) from a hold rating to a sell rating in a research report report published on Wednesday morning.
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. “
A number of other equities analysts also recently issued reports on the company. ValuEngine raised Hanover Insurance Group from a hold rating to a buy rating in a research note on Thursday, September 27th. Sandler O’Neill raised Hanover Insurance Group from a hold rating to a buy rating and increased their target price for the stock from $125.00 to $133.00 in a research note on Wednesday, September 26th. Finally, Keefe, Bruyette & Woods set a $140.00 target price on Hanover Insurance Group and gave the stock a buy rating in a research note on Thursday, August 2nd.
Shares of THG stock opened at $111.86 on Wednesday. The company has a market cap of $5.25 billion, a PE ratio of 24.00 and a beta of 0.92. Hanover Insurance Group has a 12-month low of $96.58 and a 12-month high of $131.44. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.27.
Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, August 1st. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.11. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.34 billion. Hanover Insurance Group had a return on equity of 9.11% and a net margin of 4.29%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 EPS. On average, equities research analysts expect that Hanover Insurance Group will post 7.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.93%. The ex-dividend date was Thursday, September 13th. Hanover Insurance Group’s payout ratio is currently 45.57%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Hanover Insurance Group by 11.1% in the 2nd quarter. BlackRock Inc. now owns 4,010,860 shares of the insurance provider’s stock valued at $479,538,000 after purchasing an additional 401,605 shares in the last quarter. Glen Harbor Capital Management LLC increased its stake in Hanover Insurance Group by 25.4% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 3,472 shares of the insurance provider’s stock valued at $415,000 after purchasing an additional 704 shares in the last quarter. BlueMountain Capital Management LLC increased its stake in Hanover Insurance Group by 216.3% in the 2nd quarter. BlueMountain Capital Management LLC now owns 8,764 shares of the insurance provider’s stock valued at $1,048,000 after purchasing an additional 5,993 shares in the last quarter. Federated Investors Inc. PA increased its stake in Hanover Insurance Group by 19.5% in the 2nd quarter. Federated Investors Inc. PA now owns 19,808 shares of the insurance provider’s stock valued at $2,368,000 after purchasing an additional 3,226 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Hanover Insurance Group by 26.7% in the 2nd quarter. Wells Fargo & Company MN now owns 60,189 shares of the insurance provider’s stock valued at $7,197,000 after purchasing an additional 12,697 shares in the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.
About Hanover Insurance Group
The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States and internationally. It operates through four segments: Commercial Lines, Personal Lines, Chaucer, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial coverages, such as inland marine, specialty program business, management and professional liability, surety, and specialty property, as well as monoline general liability, umbrella, healthcare, and miscellaneous commercial property insurance products.
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