Zacks Investment Research downgraded shares of The Hanover Insurance Group, Inc. (NYSE:THG) from a hold rating to a sell rating in a research report report published on Tuesday 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 weighed in on the stock. Keefe, Bruyette & Woods reissued a hold rating and issued a $91.00 price target on shares of The Hanover Insurance Group in a report on Friday, October 6th. BidaskClub raised shares of The Hanover Insurance Group from a hold rating to a buy rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $97.33.
Shares of The Hanover Insurance Group (NYSE:THG) opened at 96.87 on Tuesday. The Hanover Insurance Group has a 52-week low of $74.60 and a 52-week high of $100.33. The company has a market cap of $4.11 billion, a P/E ratio of 20.96 and a beta of 1.13. The stock has a 50 day moving average of $96.77 and a 200 day moving average of $91.01.
The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.14. The Hanover Insurance Group had a net margin of 3.95% and a return on equity of 5.83%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the firm earned $0.05 EPS. The business’s revenue was up 3.6% on a year-over-year basis. On average, equities analysts anticipate that The Hanover Insurance Group will post $3.90 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Thursday, September 14th. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 43.29%.
In other news, insider Christine Bilotti-Peterson sold 2,570 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $98.58, for a total transaction of $253,350.60. Following the completion of the transaction, the insider now directly owns 1,760 shares of the company’s stock, valued at approximately $173,500.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider J Kendall Huber sold 20,960 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $97.33, for a total transaction of $2,040,036.80. Following the transaction, the insider now directly owns 34,079 shares of the company’s stock, valued at $3,316,909.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,630 shares of company stock valued at $4,913,611. Insiders own 1.08% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC lifted its holdings in shares of The Hanover Insurance Group by 10.6% during the 2nd quarter. Lord Abbett & CO. LLC now owns 589,198 shares of the insurance provider’s stock worth $52,221,000 after acquiring an additional 56,665 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of The Hanover Insurance Group by 2.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 21,921 shares of the insurance provider’s stock worth $1,943,000 after acquiring an additional 531 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of The Hanover Insurance Group by 1.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,770 shares of the insurance provider’s stock worth $1,132,000 after acquiring an additional 229 shares during the period. Susquehanna International Group LLP bought a new position in shares of The Hanover Insurance Group during the 2nd quarter worth about $1,081,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of The Hanover Insurance Group by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 62,632 shares of the insurance provider’s stock worth $5,551,000 after acquiring an additional 1,238 shares during the period. 84.16% of the stock is owned by institutional investors.
About The Hanover Insurance Group
The Hanover Insurance Group, Inc is a holding company. The Company is engaged in providing property and casualty insurance products and services. The Company has four segments: Commercial Lines, Personal Lines, Chaucer and Other. It markets its domestic products and services through independent agents and brokers in the United States, and conducts business internationally through a subsidiary, Chaucer Holdings Limited, which operates through the Society and Corporation of Lloyd’s (Lloyd’s).
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