Zacks Research Upgrades The Hanover Insurance Group (NYSE:THG) to “Strong-Buy”

The Hanover Insurance Group (NYSE:THG) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The Hanover Insurance Group in a research report on Monday, April 20th. Wall Street Zen downgraded shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Citizens Jmp raised their price objective on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the company a “market outperform” rating in a report on Thursday, April 30th. Keefe, Bruyette & Woods lifted their price objective on shares of The Hanover Insurance Group from $207.00 to $208.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Finally, Piper Sandler boosted their target price on shares of The Hanover Insurance Group from $204.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $203.00.

The Hanover Insurance Group Trading Up 0.8%

NYSE THG opened at $184.79 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 9.30 and a beta of 0.31. The firm has a 50 day simple moving average of $176.49 and a 200-day simple moving average of $177.07. The Hanover Insurance Group has a one year low of $160.70 and a one year high of $191.66.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.14 by $1.11. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.87 EPS. Equities research analysts anticipate that The Hanover Insurance Group will post 18.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Cynthia Egan sold 3,400 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $188.50, for a total value of $640,900.00. Following the transaction, the director directly owned 9,359 shares of the company’s stock, valued at $1,764,171.50. This trade represents a 26.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jane D. Carlin sold 1,200 shares of The Hanover Insurance Group stock in a transaction on Friday, February 27th. The stock was sold at an average price of $180.91, for a total transaction of $217,092.00. Following the sale, the director owned 2,423 shares in the company, valued at $438,344.93. This represents a 33.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 29,020 shares of company stock valued at $5,227,218. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its holdings in shares of The Hanover Insurance Group by 36.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock valued at $217,505,000 after purchasing an additional 339,896 shares during the last quarter. AQR Capital Management LLC grew its stake in The Hanover Insurance Group by 24.9% during the 4th quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider’s stock worth $174,322,000 after buying an additional 190,350 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in The Hanover Insurance Group by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 833,179 shares of the insurance provider’s stock worth $152,285,000 after buying an additional 42,412 shares during the last quarter. First Trust Advisors LP increased its position in The Hanover Insurance Group by 25.4% during the fourth quarter. First Trust Advisors LP now owns 801,375 shares of the insurance provider’s stock worth $146,467,000 after buying an additional 162,111 shares during the period. Finally, Geode Capital Management LLC lifted its stake in The Hanover Insurance Group by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 727,958 shares of the insurance provider’s stock valued at $133,073,000 after buying an additional 29,870 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.