The Hanover Insurance Group (NYSE:THG) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of The Hanover Insurance Group (NYSE:THGGet Rating) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. The firm currently has $171.00 price objective on the insurance provider’s stock.

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. “

Separately, StockNews.com began coverage on The Hanover Insurance Group in a research report on Thursday, March 31st. They set a buy rating on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $156.50.

Shares of NYSE THG opened at $151.73 on Tuesday. The firm has a market capitalization of $5.40 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.05 and a beta of 0.87. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.25. The stock’s 50-day simple moving average is $143.64 and its two-hundred day simple moving average is $135.51. The Hanover Insurance Group has a twelve month low of $121.69 and a twelve month high of $154.98.

The Hanover Insurance Group (NYSE:THGGet Rating) last announced its earnings results on Wednesday, February 2nd. The insurance provider reported $3.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.88. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.20 billion. The Hanover Insurance Group had a return on equity of 10.23% and a net margin of 8.00%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.02 EPS. As a group, research analysts anticipate that The Hanover Insurance Group will post 10.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $3.00 annualized dividend and a dividend yield of 1.98%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 26.09%.

In related news, EVP Mark Joseph Welzenbach sold 15,063 shares of the stock in a transaction dated Friday, February 4th. The stock was sold at an average price of $139.10, for a total transaction of $2,095,263.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John C. Roche sold 7,258 shares of the stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $145.73, for a total value of $1,057,708.34. The disclosure for this sale can be found here. Insiders have sold a total of 34,299 shares of company stock worth $4,868,323 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in THG. Morgan Stanley lifted its stake in shares of The Hanover Insurance Group by 49.3% in the 2nd quarter. Morgan Stanley now owns 71,734 shares of the insurance provider’s stock valued at $9,729,000 after purchasing an additional 23,675 shares during the period. Virginia Retirement Systems ET AL bought a new position in The Hanover Insurance Group during the 3rd quarter valued at approximately $596,000. DekaBank Deutsche Girozentrale increased its position in The Hanover Insurance Group by 44.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 11,632 shares of the insurance provider’s stock valued at $1,537,000 after buying an additional 3,552 shares in the last quarter. New York State Teachers Retirement System increased its position in The Hanover Insurance Group by 3.7% during the 3rd quarter. New York State Teachers Retirement System now owns 51,508 shares of the insurance provider’s stock valued at $6,676,000 after buying an additional 1,835 shares in the last quarter. Finally, Meritage Portfolio Management bought a new position in The Hanover Insurance Group during the 3rd quarter valued at approximately $267,000. Institutional investors and hedge funds own 85.83% of the company’s stock.

About The Hanover Insurance Group (Get Rating)

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 three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, and workers' compensation insurance products, as well as management and professional liability, marine, specialty industrial and commercial property, monoline general liability, surety, umbrella, fidelity, crime, and other commercial coverages.

Featured Stories

Get a free copy of the Zacks research report on The Hanover Insurance Group (THG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for The Hanover Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hanover Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.