Zacks Investment Research cut shares of The Hanover Insurance Group, Inc. (NYSE:THG) from a hold rating to a sell rating in a research note issued to investors on Tuesday, August 1st.

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 brokerages have also issued reports on THG. BidaskClub upgraded shares of The Hanover Insurance Group from a sell rating to a hold rating in a research note on Friday, June 30th. Keefe, Bruyette & Woods restated a sell rating and issued a $81.00 price target on shares of The Hanover Insurance Group in a research note on Friday, May 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $93.00.

Shares of The Hanover Insurance Group (NYSE:THG) traded up 0.32% on Tuesday, reaching $99.17. 258,426 shares of the company traded hands. The company has a 50-day moving average of $92.09 and a 200-day moving average of $88.49. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 21.46 and a beta of 1.14. The Hanover Insurance Group has a 1-year low of $74.06 and a 1-year high of $100.33.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.14. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.30 billion. The Hanover Insurance Group had a net margin of 3.95% and a return on equity of 5.83%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 earnings per share. Analysts anticipate that The Hanover Insurance Group will post $6.16 earnings per share for the current fiscal year.

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In other The Hanover Insurance Group news, insider J Kendall Huber sold 20,960 shares of The Hanover Insurance Group stock in a transaction on Monday, August 7th. The shares were sold at an average price of $97.33, for a total value of $2,040,036.80. Following the completion of the transaction, the insider now owns 34,079 shares of the company’s stock, valued at $3,316,909.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Joseph Welzenbach sold 9,600 shares of The Hanover Insurance Group stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $97.94, for a total transaction of $940,224.00. Following the completion of the transaction, the insider now directly owns 34,121 shares of the company’s stock, valued at approximately $3,341,810.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,060 shares of company stock valued at $4,660,261. 1.08% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in THG. Vanguard Group Inc. increased its position in shares of The Hanover Insurance Group by 0.5% in the second quarter. Vanguard Group Inc. now owns 3,890,210 shares of the insurance provider’s stock valued at $344,789,000 after buying an additional 20,036 shares during the period. BlackRock Inc. increased its position in shares of The Hanover Insurance Group by 0.5% in the second quarter. BlackRock Inc. now owns 3,518,780 shares of the insurance provider’s stock valued at $311,870,000 after buying an additional 18,596 shares during the period. State Street Corp increased its position in shares of The Hanover Insurance Group by 2.5% in the first quarter. State Street Corp now owns 1,334,905 shares of the insurance provider’s stock valued at $120,213,000 after buying an additional 32,230 shares during the period. LSV Asset Management increased its position in shares of The Hanover Insurance Group by 0.5% in the second quarter. LSV Asset Management now owns 897,356 shares of the insurance provider’s stock valued at $79,532,000 after buying an additional 4,300 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of The Hanover Insurance Group by 43.1% in the second quarter. Renaissance Technologies LLC now owns 842,900 shares of the insurance provider’s stock valued at $74,706,000 after buying an additional 254,000 shares during the period. 84.14% 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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