The Hanover Insurance Group (NYSE:THG) Downgraded by StockNews.com to “Hold”

Posted by on Jun 2nd, 2022

The Hanover Insurance Group (NYSE:THG – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Separately, Zacks Investment Research downgraded The Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd.

Shares of The Hanover Insurance Group stock traded down $0.99 on Wednesday, reaching $145.61. 146,699 shares of the company were exchanged, compared to its average volume of 174,172. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 0.87 and a beta of 0.83. The Hanover Insurance Group has a fifty-two week low of $121.69 and a fifty-two week high of $155.55. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average price of $148.61 and a 200-day moving average price of $139.82.

The Hanover Insurance Group (NYSE:THG – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The insurance provider reported $3.26 EPS for the quarter, beating the consensus estimate of $3.00 by $0.26. The Hanover Insurance Group had a return on equity of 12.25% and a net margin of 8.16%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the firm posted $1.66 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that The Hanover Insurance Group will post 10.55 earnings per share for the current fiscal year.

In other news, CEO John C. Roche sold 922 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $155.24, for a total value of $143,131.28. Following the sale, the chief executive officer now directly owns 74,843 shares in the company, valued at approximately $11,618,627.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO John C. Roche sold 2,725 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $150.47, for a total value of $410,030.75. The disclosure for this sale can be found here. Insiders have sold a total of 10,905 shares of company stock worth $1,610,870 in the last three months. 2.50% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in THG. Quent Capital LLC purchased a new stake in shares of The Hanover Insurance Group in the fourth quarter worth about $26,000. Allegheny Financial Group LTD purchased a new stake in The Hanover Insurance Group during the fourth quarter valued at approximately $28,000. GHP Investment Advisors Inc. bought a new position in shares of The Hanover Insurance Group during the first quarter valued at approximately $37,000. Meeder Asset Management Inc. grew its stake in shares of The Hanover Insurance Group by 25,200.0% during the first quarter. Meeder Asset Management Inc. now owns 253 shares of the insurance provider’s stock valued at $38,000 after buying an additional 252 shares during the last quarter. Finally, CWM LLC bought a new position in shares of The Hanover Insurance Group during the fourth quarter valued at approximately $43,000. 84.72% of the stock is owned by institutional investors and hedge funds.

The Hanover Insurance Group Company Profile (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.

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