Hanover Insurance Group (NYSE:THG) Rating Increased to Buy at ValuEngine

Hanover Insurance Group (NYSE:THG) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, ValuEngine reports.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a report on Tuesday, May 7th. Compass Point started coverage on shares of Hanover Insurance Group in a report on Friday, March 1st. They issued a “buy” rating and a $118.71 price objective for the company. Six analysts have rated the stock with a buy rating, Hanover Insurance Group currently has a consensus rating of “Buy” and an average price target of $131.93.

Hanover Insurance Group stock opened at $127.52 on Friday. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 18.78 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. Hanover Insurance Group has a 12 month low of $104.59 and a 12 month high of $131.44.

Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.17. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.14 billion. Hanover Insurance Group had a net margin of 9.19% and a return on equity of 11.02%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.54 earnings per share. On average, analysts anticipate that Hanover Insurance Group will post 8.1 earnings per share for the current fiscal year.

In other Hanover Insurance Group news, insider J Kendall Huber sold 23,261 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $121.51, for a total value of $2,826,444.11. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ann Kirkpatrick Tripp sold 3,515 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $121.78, for a total value of $428,056.70. Following the completion of the sale, the insider now owns 18,285 shares in the company, valued at $2,226,747.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,553 shares of company stock valued at $4,076,281. 1.65% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of THG. Norges Bank bought a new stake in Hanover Insurance Group in the fourth quarter valued at $67,981,000. First Trust Advisors LP lifted its stake in Hanover Insurance Group by 950.7% in the first quarter. First Trust Advisors LP now owns 279,290 shares of the insurance provider’s stock valued at $31,887,000 after buying an additional 252,709 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in Hanover Insurance Group by 257.7% in the first quarter. Chartwell Investment Partners LLC now owns 131,971 shares of the insurance provider’s stock valued at $15,067,000 after buying an additional 95,073 shares during the last quarter. Hancock Whitney Corp lifted its stake in Hanover Insurance Group by 109.1% in the first quarter. Hancock Whitney Corp now owns 168,282 shares of the insurance provider’s stock valued at $19,213,000 after buying an additional 87,819 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in Hanover Insurance Group by 1,037.5% in the fourth quarter. Two Sigma Investments LP now owns 89,859 shares of the insurance provider’s stock valued at $10,493,000 after buying an additional 81,959 shares during the last quarter. Institutional investors own 85.15% of the company’s stock.

Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.

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