Zacks Research Upgrades The Hanover Insurance Group (NYSE:THG) to Strong-Buy

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

A number of other research firms also recently weighed in on THG. Keefe, Bruyette & Woods increased their price target on The Hanover Insurance Group from $220.00 to $222.00 and gave the company a “market perform” rating in a research note on Thursday. Morgan Stanley lifted their price objective on The Hanover Insurance Group from $220.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Citizens Jmp upped their price objective on The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a report on Wednesday, July 29th. Royal Bank Of Canada increased their target price on The Hanover Insurance Group from $215.00 to $235.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Finally, BMO Capital Markets cut The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $194.00 to $203.00 in a report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $223.57.

The Hanover Insurance Group Price Performance

Shares of THG stock opened at $231.63 on Wednesday. The stock’s fifty day moving average is $209.87 and its 200-day moving average is $189.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market capitalization of $8.07 billion, a PE ratio of 11.06 and a beta of 0.27. The Hanover Insurance Group has a 52 week low of $165.50 and a 52 week high of $236.07.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.84 by $1.47. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The Hanover Insurance Group’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $4.35 earnings per share. Equities research analysts expect that The Hanover Insurance Group will post 20.15 EPS for the current fiscal year.

The Hanover Insurance Group announced that its board has approved a stock repurchase plan on Wednesday, May 13th that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were 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 $525,505. The trade was a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Denise Lowsley sold 4,175 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $191.73, for a total value of $800,472.75. Following the transaction, the executive vice president owned 3,883 shares in the company, valued at $744,487.59. The trade was a 51.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 26,046 shares of company stock worth $5,095,138. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

Large investors have recently modified their holdings of the stock. Millennium Management LLC grew its stake in The Hanover Insurance Group by 61.0% during the first quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock worth $15,371,000 after buying an additional 33,495 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of The Hanover Insurance Group by 1,568.9% during the 1st quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock worth $131,000 after acquiring an additional 706 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of The Hanover Insurance Group by 21.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock worth $38,052,000 after acquiring an additional 38,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of The Hanover Insurance Group by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock worth $22,445,000 after acquiring an additional 7,712 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of The Hanover Insurance Group by 7.7% during the 2nd quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock worth $48,155,000 after acquiring an additional 20,294 shares in the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

About The Hanover Insurance Group

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.