ValuEngine Downgrades Hanover Insurance Group (THG) to Hold

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Hanover Insurance Group (NYSE:THG) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research firms also recently weighed in on THG. Zacks Investment Research raised shares of Hanover Insurance Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 12th. Keefe, Bruyette & Woods set a $140.00 price target on shares of Hanover Insurance Group and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Finally, Sandler O’Neill downgraded shares of Hanover Insurance Group from a “buy” rating to a “neutral” rating in a research note on Thursday.

Hanover Insurance Group stock traded down $4.62 during mid-day trading on Thursday, hitting $121.92. The company’s stock had a trading volume of 280,800 shares, compared to its average volume of 190,260. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $5.43 billion, a PE ratio of 25.72 and a beta of 0.94. Hanover Insurance Group has a 12 month low of $87.91 and a 12 month high of $131.44.

Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, August 1st. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.11. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.34 billion. Hanover Insurance Group had a net margin of 4.29% and a return on equity of 9.11%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.83 earnings per share. equities analysts expect that Hanover Insurance Group will post 8.6 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of THG. BlackRock Inc. raised its stake in shares of Hanover Insurance Group by 11.1% during the second quarter. BlackRock Inc. now owns 4,010,860 shares of the insurance provider’s stock valued at $479,538,000 after acquiring an additional 401,605 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Hanover Insurance Group by 87.6% during the first quarter. Lord Abbett & CO. LLC now owns 777,212 shares of the insurance provider’s stock valued at $91,626,000 after acquiring an additional 363,017 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Hanover Insurance Group by 40.4% during the first quarter. Victory Capital Management Inc. now owns 1,253,772 shares of the insurance provider’s stock valued at $147,808,000 after acquiring an additional 360,659 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Hanover Insurance Group during the first quarter valued at about $39,074,000. Finally, Millennium Management LLC raised its stake in shares of Hanover Insurance Group by 1,582.6% during the first quarter. Millennium Management LLC now owns 212,532 shares of the insurance provider’s stock valued at $25,055,000 after acquiring an additional 199,901 shares during the last quarter. 84.49% of the stock is owned by hedge funds and other institutional investors.

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 and internationally. It operates through four segments: Commercial Lines, Personal Lines, Chaucer, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial coverages, such as inland marine, specialty program business, management and professional liability, surety, and specialty property, as well as monoline general liability, umbrella, healthcare, and miscellaneous commercial property insurance products.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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