Hanover Insurance Receives a Buy from JMP Securities

By Austin Angelo

JMP Securities analyst Matthew Carletti reiterated a Buy rating on Hanover Insurance (NYSE: THG) today. The company’s shares opened today at $78.63.

According to TipRanks.com, Carletti is a 4-star analyst with an average return of 3.7% and a 63.6% success rate. Carletti covers the Financial sector, focusing on stocks such as Argo Group International Holdings Ltd, Heritage Insurance Holdings, and Renaissancere Holdings Ltd.

Currently, the analyst consensus on Hanover Insurance is Moderate Buy and the average price target is $88, representing an 11.9% upside.

In a report issued on October 24, Sandler O’Neill also initiated coverage with a Buy rating on the stock with a $88 price target.

Hanover Insurance’s market cap is currently $3.23B and has a P/E ratio of 14.13. The company has a book value ratio of 1.0727.

Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2016, Christine Bilotti-Peterson, the SVP of THG sold 3,600 shares for a total of $296,300.

The Hanover Insurance Group, Inc. is a holding company that engages in the provision of property and casualty products and services. It operates through the following segments: Commercial Lines, Personal Lines, Chaucer, and Other. The Commercial Lines segment includes commercial multiple peril, commercial automobile, workers’ compensation and other commercial coverage, such as specialty program business, inland marine, management and professional liability and surety. The Personal Lines segment involves personal automobile, homeowners and other personal coverage. The Chaucer segment consists of marine and aviation, energy, property, U.K. motor, and casualty and other coverage which includes international liability, specialist coverage, and syndicate participations. The Other segment operates through Opus Investment Management, Inc. The company was founded in 1852 and is headquartered in Worcester, MA.