The Hanover Insurance Group Inc. (NYSE:THG) has been given an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company. The Hanover Insurance Group’s rating score has improved by 14.2% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 12 month consensus price target of $98.00 for the company and are anticipating that the company will post $1.40 EPS for the current quarter, according to Zacks. Zacks has also given The Hanover Insurance Group an industry rank of 194 out of 265 based on the ratings given to related companies.
A number of research firms have commented on THG. Zacks Investment Research cut shares of The Hanover Insurance Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. BMO Capital Markets reissued an “outperform” rating and set a $99.00 price target (up previously from $98.00) on shares of The Hanover Insurance Group in a research report on Tuesday, July 12th. Finally, JMP Securities reissued an “outperform” rating and set a $95.00 price target on shares of The Hanover Insurance Group in a research report on Monday, September 12th.
In related news, insider Christine Bilotti-Peterson sold 3,600 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 6,390 shares in the company, valued at $525,960.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.49% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 worth $303,398,000 after buying an additional 158,764 shares during the last quarter. BlackRock Fund Advisors raised its stake in 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 worth $126,859,000 after buying an additional 58,111 shares during the last quarter. State Street Corp raised its stake in 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 worth $117,053,000 after buying an additional 35,258 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 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 worth $63,355,000 after buying an additional 49,943 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in 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 worth $52,638,000 after buying an additional 50,689 shares during the last quarter. Hedge funds and other institutional investors own 82.93% of the company’s stock.
Shares of The Hanover Insurance Group (NYSE:THG) opened at 77.57 on Wednesday. The company has a 50-day moving average of $76.42 and a 200-day moving average of $82.79. The firm has a market capitalization of $3.32 billion, a PE ratio of 14.44 and a beta of 1.01. The Hanover Insurance Group has a 1-year low of $74.06 and a 1-year high of $91.30.
The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Thursday, July 28th. The company reported $1.24 EPS for the quarter, beating the Zacks’ 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 company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company posted $1.56 earnings per share. The Hanover Insurance Group’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts predict that The Hanover Insurance Group will post $5.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a dividend of $0.46 per share. The ex-dividend date was Wednesday, September 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.37%. The Hanover Insurance Group’s payout ratio is 34.39%.
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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