11 stories mentioning THGUpdated 25d ago
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Hanover Insurance Group (THG) shares were down 2.9% in afternoon trading on Wednesday after Piper Sandler downgraded the company's stock to neutral from overweight.Trading volume stood at over 223,000 shares against a daily average of about 308,000.Price: $207.92, Change: $-6.24, Percent Change: -2.91%
Hanover Insurance Group (THG) has an average rating of hold and mean price target of $216.25, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Marsh (MRSH), American International Group (AIG), and other US insurance intermediaries and carriers in the property and casualty sector will be negatively impacted by property pricing headwinds in Q2, RBC Capital Markets said in a Monday note that previewed the quarter for the US insurance industry.Recent reinsurance renewals have implied that aggressive competition will continue, amid the renewal seasonality being the highest in Q2, the firm said. RBC analysts expect insurance executives to remain negative during the quarter's earnings calls as data continues to indicate downward pressure on property insurance prices, according to the note.The analysts also anticipate some risk of negative growth surprises for insurance carriers due to property seasonality, as well as limited organic growth for brokers. However, several large property insurance carriers are testing rate adequacy, which could pave the way for the slowing of price reductions into 2027, the analysts added.For RBC's Q2 preview, intermediary and mortgage insurer revisions were fairly small, while carriers in general saw cuts due to notable Severe Convective Storm activity in April and June, as well as ongoing losses from the Iran conflict. However, the analysts said that price target revisions were generally positive due to renewed interest in the insurance space.Notably, RBC raised the price targets on Arthur J. Gallagher (AJG) to $300 from $260, and The Hanover Insurance Group (THG) to $215 from $195 prior.Price: $182.01, Change: $+3.70, Percent Change: +2.08%
Personal line carriers such as Progressive (PGR) and Travelers (TRV) are positioned to report strong, underwriting in 2026 and portions of 2027, before a more meaningful loss ratio deterioration in 2028, Morgan Stanley said in a Wednesday note.Favorable trends from tort reforms and slower physical damage growth are expected to continue through 2026 and 2027 after supporting 2024 and 2025 personal auto insurance losses, the investment firm said.The insurance companies expected to benefit include Allstate (ALL), Hartford Insurance Group (HIG) and Hanover Insurance (THG), according to the note.Inflation and lower pricing should also drive losses for personal auto insurance and extend profitability, the brokerage added. Loss deterioration, however, is likely to be moderate amid better management of social inflation and as earned pricing takes time, Morgan Stanley noted.Morgan Stanley raised its price targets on Travelers to $333 from $330 and to $225 from $220 for Hanover Insurance, with an equal-weight rating for both.Price: $236.34, Change: $+1.94, Percent Change: +0.83%
Hanover Insurance Group (THG) has an average rating of overweight and mean price target of $211.25, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Financial stocks were lower in late Tuesday afternoon trading, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 1.1%.The Philadelphia Housing Index was falling 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.2%.Bitcoin (BTC-USD) was decreasing 0.2% to $76,806, and the yield for 10-year US Treasuries rose 4.4 basis points to 4.667%.In economic news, US pending home sales increased more than expected last month as home buyers apparently shrugged off mounting economic uncertainty. The forward-looking indicator of home sales based on contract signings increased 1.4% month over month in April, the National Association of Realtors said Tuesday. Analysts expected a 1% gain, according to a survey compiled by Bloomberg.In corporate news, Hanover Insurance (THG) shares fell 2.2% after BMO downgraded the company's stock to market perform from outperform.Blackstone (BX) shares were down 2.3% after Bloomberg reported Tuesday the company has dropped out of a consortium exploring a takeover of German media group Stroeer. Separately, Blackstone said late Monday it is forming a US-based joint venture with Alphabet's (GOOGL) Google to provide AI-focused data center capacity and cloud computing services. Blackstone said it will invest $5 billion in equity initially for the JV, which plans to bring its first 500 megawatts of capacity online in 2027 and expand further over time.Blue Owl (OWL) Co-Founder Doug Ostrover is selling his stake in the NFL's Washington Commanders back to the Josh Harris-led ownership group, Bloomberg reported. Blue Owl shares fell 1%.Lloyds Banking (LYG) is preparing to expand its US infrastructure financing business, including lending tied to the fast-growing data center sector, the Financial Times reported. The UK lender is aiming to build a US infrastructure bank focused on large construction projects and sectors such as green energy, while supporting UK corporate clients with US operations, the report said. Lloyds shares were fractionally lower.
Financial stocks declined in late Tuesday afternoon trading, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 1.1%.The Philadelphia Housing Index was falling 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.2%.Bitcoin (BTC-USD) was decreasing 0.2% to $76,806, and the yield for 10-year US Treasuries rose 4.4 basis points to 4.667%.In corporate news, Hanover Insurance (THG) shares fell 2.2% after BMO downgraded the company's stock to market perform from outperform.
Hanover Insurance (THG) shares were down 1.4% in Tuesday trading after BMO downgraded the company's stock to market perform from outperform and adjusted its price target to $203 from $194.Trading volume stood at over 116,500 shares compared with a daily average of 292,200.Price: $194.86, Change: $-2.68, Percent Change: -1.36%
Hanover Insurance Group (THG) has an average rating of overweight and mean price target of $203.50, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Hanover Insurance (THG) is expanding its motorcycle and off-road vehicle insurance product offerings into more US states, the company said Thursday.The company's motorcycle insurance products have been expanded into Maryland and Virginia, while its off-road vehicle offering is now available in Maine, New Hampshire, Ohio and Pennsylvania, it said.Hanover plans to expand its off-road vehicle offering to additional states later this year, it added.Shares of the company were up 1.1% in Thursday afternoon trading.Price: $191.34, Change: $+2.04, Percent Change: +1.08%
Hanover Insurance (THG) has an average rating of overweight and mean price target of $200.38, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $189.40, Change: $+1.71, Percent Change: +0.91%
