Zacks Investment Research downgraded shares of The Hanover Insurance Group Inc. (NYSE:THG) from a hold rating to a sell rating in a report issued on Thursday.

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. “

Several other brokerages have also weighed in on THG. BMO Capital Markets restated an outperform rating and issued a $94.00 price objective (down from $99.00) on shares of The Hanover Insurance Group in a report on Wednesday, August 3rd. JMP Securities restated an outperform rating and issued a $95.00 price objective on shares of The Hanover Insurance Group in a report on Monday, September 12th.

The Hanover Insurance Group (NYSE:THG) opened at 74.52 on Thursday. The Hanover Insurance Group has a 12-month low of $74.30 and a 12-month high of $91.30. The stock’s 50 day moving average is $78.21 and its 200 day moving average is $83.77. The stock has a market capitalization of $3.19 billion, a PE ratio of 13.87 and a beta of 0.91.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.02. The Hanover Insurance Group had a net margin of 4.83% and a return on equity of 9.51%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the business posted $1.56 earnings per share. The Hanover Insurance Group’s revenue was down 5.6% compared to the same quarter last year. Analysts forecast that The Hanover Insurance Group will post $5.93 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Wednesday, September 14th. The Hanover Insurance Group’s dividend payout ratio is 34.39%.

In other news, insider Christine Bilotti-Peterson sold 3,600 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $82.31, for a total transaction of $296,316.00. Following the completion of the sale, the insider now owns 6,390 shares of the company’s stock, valued at $525,960.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.49% of the company’s stock.

Several large investors have recently modified their holdings of the company. Huntington Asset Advisors Inc. acquired a new position in The Hanover Insurance Group during the first quarter worth $171,000. Envestnet Asset Management Inc. increased its position in The Hanover Insurance Group by 16.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,093 shares of the company’s stock worth $189,000 after buying an additional 298 shares during the period. Tower Research Capital LLC TRC increased its position in The Hanover Insurance Group by 65.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,274 shares of the company’s stock worth $192,000 after buying an additional 899 shares during the period. Zacks Investment Management acquired a new position in The Hanover Insurance Group during the second quarter worth $212,000. Finally, LS Investment Advisors LLC increased its position in The Hanover Insurance Group by 72.4% in the second quarter. LS Investment Advisors LLC now owns 2,567 shares of the company’s stock worth $217,000 after buying an additional 1,078 shares during the period. 82.99% of the stock is owned by institutional investors.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc is a holding company. The Company’s primary business operations are property and casualty insurance products and services. The Company operates through four segments: Commercial Lines, Personal Lines, Chaucer and Other. The Company’s Commercial Lines product suite provides agents and customers with products designed for small, middle and specialized markets.

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