What’s Propelling The Hanover Insurance Group, Inc. (THG) to Increase? The Stock Formed a Bullish Double Top Chart Pattern

May 16, 2018 - By Dolores Ford

The Hanover Insurance Group, Inc. (NYSE:THG) Logo

The chart of The Hanover Insurance Group, Inc. (THG) shows a double top with $125.96 target or 6.00 % above today’s $118.83 share price. The 6 months chart pattern indicates low risk for the $5.06B company. It was reported on May, 16 by Finviz.com. If the $125.96 price target is reached, the company will be worth $303.30 million more. Double tops are rare but powerful chart patterns.

The stock increased 0.02% or $0.02 during the last trading session, reaching $118.83. About 55,003 shares traded. The Hanover Insurance Group, Inc. (NYSE:THG) has risen 27.09% since May 16, 2017 and is uptrending. It has outperformed by 15.54% the S&P500.

Analysts await The Hanover Insurance Group, Inc. (NYSE:THG) to report earnings on August, 1. They expect $2.09 earnings per share, up 23.67 % or $0.40 from last year’s $1.69 per share. THG’s profit will be $88.91M for 14.21 P/E if the $2.09 EPS becomes a reality. After $1.95 actual earnings per share reported by The Hanover Insurance Group, Inc. for the previous quarter, Wall Street now forecasts 7.18 % EPS growth.

The Hanover Insurance Group, Inc. (NYSE:THG) Ratings Coverage

Among 2 analysts covering Hanover Insurance (NYSE:THG), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Hanover Insurance had 7 analyst reports since December 4, 2017 according to SRatingsIntel. The company was upgraded on Friday, May 4 by Keefe Bruyette & Woods. The stock has “Buy” rating by Sandler O’Neill on Thursday, February 1. The firm has “Buy” rating given on Tuesday, January 9 by Sandler O’Neill. Sandler O’Neill maintained the shares of THG in report on Friday, April 6 with “Buy” rating. On Monday, December 4 the stock rating was maintained by Keefe Bruyette & Woods with “Hold”. The rating was maintained by Keefe Bruyette & Woods on Thursday, February 1 with “Hold”. The stock of The Hanover Insurance Group, Inc. (NYSE:THG) has “Buy” rating given on Tuesday, April 17 by Sandler O’Neill.

More recent The Hanover Insurance Group, Inc. (NYSE:THG) news were published by: Seekingalpha.com which released: “The Hanover Insurance Group’s (THG) CEO Jack Roche on Q1 2018 Results – Earnings Call Transcript” on May 03, 2018. Also Prnewswire.com published the news titled: “The Hanover Enhances Commercial Customer Service Center to Service More Specialty Lines” on April 19, 2018. Benzinga.com‘s news article titled: “Earnings Scheduled For May 2, 2018” with publication date: May 02, 2018 was also an interesting one.

The Hanover Insurance Group, Inc., through its subsidiaries, provides various property and casualty insurance services and products in the United States and internationally. The company has market cap of $5.06 billion. It operates through four divisions: Commercial Lines, Personal Lines, Chaucer, and Other. It has a 27.39 P/E ratio. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workersÂ’ compensation, specialty property, inland marine, management and professional liability, and surety, as well as monoline general liability, umbrella, healthcare, and miscellaneous commercial property insurance products.

The Hanover Insurance Group, Inc. (NYSE:THG) Ratings Chart

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