The Hanover Insurance Group, Inc. (NYSE:THG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, November 9th.
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. “
Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $91.00 target price on shares of The Hanover Insurance Group in a report on Thursday, September 7th. BidaskClub upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th.
The Hanover Insurance Group (NYSE:THG) traded down $2.31 during trading on Thursday, hitting $104.02. The company had a trading volume of 70,307 shares, compared to its average volume of 228,971. The stock has a market cap of $4,504.05, a P/E ratio of 46.31 and a beta of 1.11. The Hanover Insurance Group has a 52 week low of $79.23 and a 52 week high of $107.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.45 and a quick ratio of 0.45.
The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.74. The Hanover Insurance Group had a return on equity of 3.35% and a net margin of 2.37%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the firm posted $1.83 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. research analysts predict that The Hanover Insurance Group will post 4.65 earnings per share for the current fiscal year.
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In other The Hanover Insurance Group news, insider Christine Bilotti-Peterson sold 2,570 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $98.58, for a total value of $253,350.60. Following the completion of the sale, the insider now owns 1,760 shares of the company’s stock, valued at $173,500.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Joseph Welzenbach sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $103.89, for a total transaction of $519,450.00. Following the completion of the sale, the insider now directly owns 29,521 shares of the company’s stock, valued at approximately $3,066,936.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,293 shares of company stock valued at $1,273,864. Company insiders own 1.08% of the company’s stock.
Several institutional investors have recently bought and sold shares of THG. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of The 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 acquiring an additional 120 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in The Hanover Insurance Group during the third quarter valued at approximately $180,000. Trust Co. of Toledo NA OH increased its holdings in The Hanover Insurance Group by 5.5% during the second quarter. Trust Co. of Toledo NA OH now owns 2,601 shares of the insurance provider’s stock valued at $231,000 after buying an additional 135 shares during the period. Parametrica Management Ltd purchased a new position in The Hanover Insurance Group during the third quarter valued at approximately $235,000. Finally, Raymond James Trust N.A. purchased a new position in The Hanover Insurance Group during the second quarter valued at approximately $236,000. 83.65% of the stock is owned by hedge funds and other institutional investors.
The 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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