Morgan Stanley Issues Pessimistic Forecast for The Hanover Insurance Group (NYSE:THG) Stock Price
by Sarita Garza · The Markets DailyThe Hanover Insurance Group (NYSE:THG – Get Free Report) had its target price dropped by Morgan Stanley from $194.00 to $190.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s target price indicates a potential upside of 8.48% from the stock’s previous close.
Several other brokerages also recently weighed in on THG. Wall Street Zen downgraded The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of The Hanover Insurance Group in a research note on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods increased their price target on The Hanover Insurance Group from $207.00 to $208.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.50.
Check Out Our Latest Report on The Hanover Insurance Group
The Hanover Insurance Group Stock Down 0.5%
Shares of THG stock traded down $0.95 on Monday, hitting $175.15. The stock had a trading volume of 17,150 shares, compared to its average volume of 344,451. The stock’s 50 day moving average is $174.09 and its 200-day moving average is $176.95. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 9.59 and a beta of 0.29. The Hanover Insurance Group has a 52-week low of $147.76 and a 52-week high of $188.18. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.44 and a current ratio of 0.44.
The Hanover Insurance Group (NYSE:THG – Get Free Report) last released its quarterly earnings results on Friday, February 20th. The insurance provider reported $5.46 earnings per share (EPS) for the quarter. The Hanover Insurance Group had a net margin of 10.05% and a return on equity of 21.00%. The firm had revenue of $1.67 billion for the quarter. As a group, research analysts expect that The Hanover Insurance Group will post 14.37 earnings per share for the current year.
Insider Buying and Selling
In related news, EVP Richard W. Lavey sold 24,420 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $178.92, for a total transaction of $4,369,226.40. Following the sale, the executive vice president owned 32,174 shares of the company’s stock, valued at $5,756,572.08. The trade was a 43.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jane D. Carlin sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $180.91, for a total value of $217,092.00. Following the completion of the sale, the director owned 2,423 shares of the company’s stock, valued at $438,344.93. This trade represents a 33.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.50% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Alliancebernstein L.P. lifted its holdings in The Hanover Insurance Group by 36.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock valued at $217,505,000 after acquiring an additional 339,896 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of The Hanover Insurance Group by 24.9% in the 4th quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider’s stock worth $174,322,000 after purchasing an additional 190,350 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of The Hanover Insurance Group by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 833,179 shares of the insurance provider’s stock worth $152,285,000 after purchasing an additional 42,412 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of The Hanover Insurance Group by 25.4% in the 4th quarter. First Trust Advisors LP now owns 801,375 shares of the insurance provider’s stock worth $146,467,000 after purchasing an additional 162,111 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of The Hanover Insurance Group by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 727,958 shares of the insurance provider’s stock worth $133,073,000 after purchasing an additional 29,870 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.
The Hanover Insurance Group Company Profile
The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.
In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.