The Hanover Insurance Group (NYSE:THG) Rating Increased to Strong-Buy at Zacks Research

The Hanover Insurance Group (NYSE:THG) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

THG has been the topic of a number of other research reports. Keefe, Bruyette & Woods lifted their target price on The Hanover Insurance Group from $220.00 to $222.00 and gave the company a “market perform” rating in a research report on Thursday. Morgan Stanley raised their price target on The Hanover Insurance Group from $220.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Citizens Jmp boosted their price target on The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 29th. BMO Capital Markets cut The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $194.00 to $203.00 in a research note on Tuesday, May 19th. Finally, Piper Sandler downgraded The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective for the company. in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $223.57.

The Hanover Insurance Group Stock Up 1.1%

Shares of THG stock opened at $231.63 on Wednesday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group has a 1 year low of $165.50 and a 1 year high of $236.07. The firm’s fifty day moving average price is $209.87 and its two-hundred day moving average price is $189.49. The firm has a market capitalization of $8.07 billion, a P/E ratio of 11.06 and a beta of 0.27.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, topping the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the firm posted $4.35 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts predict that The Hanover Insurance Group will post 20.15 EPS for the current fiscal year.

The Hanover Insurance Group announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 13th that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Denise Lowsley sold 4,175 shares of The Hanover Insurance Group stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $191.73, for a total transaction of $800,472.75. Following the completion of the transaction, the executive vice president owned 3,883 shares in the company, valued at approximately $744,487.59. This trade represents a 51.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jane D. Carlin sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total value of $231,500.00. Following the transaction, the director directly owned 2,270 shares in the company, valued at approximately $525,505. This trade represents a 30.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,046 shares of company stock worth $5,095,138 in the last three months. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Basecamp Wealth Advisors LLC boosted its stake in The Hanover Insurance Group by 19.1% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 55 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of The Hanover Insurance Group by 5.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider’s stock valued at $195,000 after buying an additional 59 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of The Hanover Insurance Group by 3.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider’s stock valued at $344,000 after acquiring an additional 64 shares during the period. Public Employees Retirement System of Ohio grew its stake in The Hanover Insurance Group by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider’s stock valued at $2,183,000 after acquiring an additional 66 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in The Hanover Insurance Group by 3.4% during the fourth quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider’s stock valued at $370,000 after acquiring an additional 66 shares in the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

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.