Barclays Cuts PT and Estimates on The Hanover Insurance Group (THG); Weaker Auto & Surety

August 3, 2012 2:34 PM EDT Send to a Friend
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Price: $63.67 +0.35%

Rating Summary:
    6 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 14 | New: 52
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Barclays maintains an 'Equalweight' on The Hanover Insurance Group (NYSE: THG) price target of $37.00 (from $41.00).

Analyst, Sarah DeWitt, said, "We lower our 2012 EPS estimate for THG to $2.80 from $3.20 and our 2013 EPS estimate to $3.50 from $3.75...THG's ROE is expected to remain below its cost of capital and the potential for further reserve strengthening is a risk. Also, THG's acquisition of Chaucer increases its exposure to high severity business and expands THG's business outside its core operations. That said, THG trades at 0.57x 2Q12 BV, in line with its historical low."

For an analyst ratings summary and ratings history on The Hanover Insurance Group click here. For more ratings news on The Hanover Insurance Group click here.

Shares of The Hanover Insurance Group closed at $33.99 yesterday.




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