Janney Montgomery Scott Downgrades The Hanover Insurance Group (NYSE:THG) to Neutral

The Hanover Insurance Group (NYSE:THG) was downgraded by equities researchers at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat.com reports. They presently have a $176.00 price target on the insurance provider’s stock. Janney Montgomery Scott’s target price would indicate a potential upside of 7.58% from the stock’s current price.

Several other brokerages also recently issued reports on THG. Keefe, Bruyette & Woods raised their price objective on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. JMP Securities lifted their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Piper Sandler boosted their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Oppenheimer increased their price objective on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Bank of America lifted their target price on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $173.83.

The Hanover Insurance Group Trading Up 0.5 %

Shares of The Hanover Insurance Group stock opened at $163.60 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.40 and a quick ratio of 0.40. The business has a fifty day simple moving average of $151.90 and a two-hundred day simple moving average of $139.30. The Hanover Insurance Group has a 1 year low of $119.36 and a 1 year high of $165.27. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 16.29 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.40. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The Hanover Insurance Group’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 EPS. Research analysts forecast that The Hanover Insurance Group will post 11.29 EPS for the current year.

Insider Activity

In other The Hanover Insurance Group news, EVP Richard W. Lavey sold 8,468 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $144.01, for a total transaction of $1,219,476.68. Following the completion of the sale, the executive vice president now directly owns 36,281 shares in the company, valued at $5,224,826.81. This represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey M. Farber sold 6,114 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $162.36, for a total value of $992,669.04. Following the completion of the sale, the executive vice president now directly owns 54,091 shares in the company, valued at approximately $8,782,214.76. This represents a 10.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 39,419 shares of company stock worth $6,054,037. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of The Hanover Insurance Group

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC grew its position in The Hanover Insurance Group by 14,711.0% in the third quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider’s stock valued at $81,823,000 after acquiring an additional 548,720 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of The Hanover Insurance Group by 10.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider’s stock valued at $219,883,000 after purchasing an additional 143,339 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in The Hanover Insurance Group during the 2nd quarter worth approximately $14,684,000. AQR Capital Management LLC lifted its stake in The Hanover Insurance Group by 116.7% in the 2nd quarter. AQR Capital Management LLC now owns 114,643 shares of the insurance provider’s stock valued at $14,150,000 after purchasing an additional 61,738 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in The Hanover Insurance Group in the second quarter valued at approximately $4,284,000. 86.61% of the stock is currently owned by institutional investors.

The 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. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.