The Hanover Insurance Group (NYSE:THG – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.
Several other analysts have also issued reports on THG. Citigroup reissued an “outperform” rating on shares of The Hanover Insurance Group in a research report on Thursday, April 30th. Royal Bank Of Canada upped their price target on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Oppenheimer raised their price objective on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Citizens Jmp lifted 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 research note on Thursday, April 30th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $220.00 target price (up from $211.00) on shares of The Hanover Insurance Group in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.57.
Get Our Latest Analysis on The Hanover Insurance Group
The Hanover Insurance Group Trading Down 2.6%
The Hanover Insurance Group (NYSE:THG – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, beating the consensus estimate of $4.14 by $1.11. The business 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 company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.87 earnings per share. As a group, research analysts forecast that The Hanover Insurance Group will post 18.38 EPS for the current year.
The Hanover Insurance Group declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 13th that permits the company to buyback $700.00 million in shares. This buyback authorization permits the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
Insider Transactions at The Hanover Insurance Group
In other news, CEO John C. Roche sold 8,358 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.74, for a total value of $1,619,278.92. Following the transaction, the chief executive officer owned 141,011 shares of the company’s stock, valued at $27,319,471.14. This represents a 5.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Francisco Aristeguieta sold 1,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $195.37, for a total transaction of $195,370.00. Following the sale, the director owned 4,053 shares in the company, valued at approximately $791,834.61. This trade represents a 19.79% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 29,508 shares of company stock valued at $5,704,651. Corporate insiders own 2.80% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in THG. JPL Wealth Management LLC bought a new position in The Hanover Insurance Group in the third quarter valued at $26,000. Community Bank N.A. bought a new stake in The Hanover Insurance Group during the third quarter worth about $27,000. McMillan Office Inc. bought a new stake in The Hanover Insurance Group during the fourth quarter worth about $31,000. Entrust Financial LLC purchased a new position in shares of The Hanover Insurance Group in the 4th quarter worth about $33,000. Finally, Root Financial Partners LLC boosted its holdings in shares of The Hanover Insurance Group by 69.3% in the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 97 shares in the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.
About The Hanover Insurance Group
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.
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