Zacks Investment Research cut shares of The Hanover Insurance Group Inc. (NYSE:THG) from a hold rating to a sell rating in a report released on Wednesday morning.

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. “

A number of other analysts also recently issued reports on the company. JMP Securities reaffirmed an outperform rating and issued a $95.00 target price on shares of The Hanover Insurance Group in a research report on Monday, September 12th. BMO Capital Markets reissued an outperform rating and set a $94.00 price target (down previously from $99.00) on shares of The Hanover Insurance Group in a research report on Wednesday, August 3rd.

Shares of The Hanover Insurance Group (NYSE:THG) traded up 0.49% during mid-day trading on Wednesday, reaching $75.18. 6,973 shares of the company’s stock traded hands. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 14.00 and a beta of 0.91. The firm’s 50-day moving average is $77.80 and its 200 day moving average is $83.63. The Hanover Insurance Group has a one year low of $74.06 and a one year high of $91.30.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Thursday, July 28th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.02. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.23 billion. The Hanover Insurance Group had a return on equity of 9.51% and a net margin of 4.83%. The Hanover Insurance Group’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.56 earnings per share. Analysts predict that The Hanover Insurance Group will post $5.93 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Wednesday, September 14th. The Hanover Insurance Group’s payout ratio is 34.39%.

In other news, insider Christine Bilotti-Peterson sold 3,600 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $82.31, for a total value of $296,316.00. Following the transaction, the insider now owns 6,390 shares of the company’s stock, valued at $525,960.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.49% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in The Hanover Insurance Group by 4.6% in the second quarter. Vanguard Group Inc. now owns 3,585,420 shares of the company’s stock valued at $303,398,000 after buying an additional 158,764 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of The Hanover Insurance Group by 4.0% in the second quarter. BlackRock Fund Advisors now owns 1,499,162 shares of the company’s stock valued at $126,859,000 after buying an additional 58,111 shares during the period. State Street Corp boosted its stake in shares of The Hanover Insurance Group by 2.6% in the second quarter. State Street Corp now owns 1,383,268 shares of the company’s stock valued at $117,053,000 after buying an additional 35,258 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of The Hanover Insurance Group by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 748,708 shares of the company’s stock valued at $63,355,000 after buying an additional 49,943 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of The Hanover Insurance Group by 8.9% in the second quarter. AQR Capital Management LLC now owns 622,049 shares of the company’s stock valued at $52,638,000 after buying an additional 50,689 shares during the period. 82.93% of the stock is currently owned by institutional investors.

About The Hanover Insurance Group

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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