Shares of The Hanover Insurance Group (THG) Fall as KBW Cuts to Market Perform

An analyst at Keefe, Bruyette & Woods just downgraded The Hanover Insurance Group (NYSE: THG) in an intraday research note.

The firm now rates THG shares a Market Perform, down from Outperform previously, and reduced its price target to $48.

KBW said the downgrade reflects "the financially attractive elements of the Chaucer acquisition.

KBW reduced its FY11 EPS estimate from $3.80 to $3.75 in order to account for preannounced bad weather during Q1.

THG shares are now down 1.9 percent to $42.76.

For more ratings news on The Hanover Insurance Group click here and for the rating history of The Hanover Insurance Group click here.

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