The Hanover Insurance Group (NYSE:THG) Rating Lowered to Neutral at Janney Montgomery Scott

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

THG has been the subject of several other research reports. Oppenheimer upped their target price on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Bank of America upped their price objective on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. JMP Securities increased 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. Finally, Piper Sandler lifted their price objective on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.83.

The Hanover Insurance Group Stock Performance

THG stock opened at $163.60 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27. The Hanover Insurance Group has a twelve month low of $119.36 and a twelve month high of $165.27. The business’s fifty day moving average is $151.90 and its 200-day moving average is $139.30. The company has a market cap of $5.89 billion, a P/E ratio of 16.29 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last issued 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 firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 earnings per share. Equities research analysts forecast that The Hanover Insurance Group will post 11.29 EPS for the current year.

Insider Activity at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 6,114 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $162.36, for a total value of $992,669.04. Following the completion of the transaction, the executive vice president now owns 54,091 shares in the company, valued at $8,782,214.76. This trade represents a 10.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Warren E. Barnes sold 500 shares of The Hanover Insurance Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $138.25, for a total value of $69,125.00. Following the completion of the sale, the senior vice president now directly owns 3,013 shares in the company, valued at approximately $416,547.25. This represents a 14.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,419 shares of company stock valued at $6,054,037. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Boston Partners boosted its holdings in shares of The Hanover Insurance Group by 111.8% in the 1st quarter. Boston Partners now owns 12,794 shares of the insurance provider’s stock valued at $1,739,000 after buying an additional 6,753 shares during the last quarter. Interval Partners LP acquired a new stake in The Hanover Insurance Group in the first quarter valued at $2,349,000. Markel Group Inc. lifted its stake in The Hanover Insurance Group by 5.8% in the third quarter. Markel Group Inc. now owns 254,000 shares of the insurance provider’s stock valued at $37,620,000 after acquiring an additional 14,000 shares during the last quarter. Tidal Investments LLC bought a new position in shares of The Hanover Insurance Group in the 1st quarter valued at about $867,000. Finally, Foundations Investment Advisors LLC acquired a new position in shares of The Hanover Insurance Group during the 2nd quarter worth about $681,000. 86.61% of the stock is currently owned by institutional investors.

About The Hanover Insurance Group

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.