Hanover Insurance Ailed By Higher Core & Catastrophe Losses - What Does The Future Hold?
Portfolio Pulse from Nabaparna Bhattacharya
Keefe, Bruyette & Woods analyst Meyer Shields has reiterated a Market Perform rating on Hanover Insurance Group Inc (THG), lowering the price target to $119 from $124. Shields projects higher core and catastrophe loss ratios and lower investment income for the company. For FY23, the analyst expects investment income to fall by 11.9% Y/Y to $331.7 million. The analyst also lowered the 2023/2024 EPS to $2.40/$11.35 from $2.85/$12.40 and introduced an initial 2025 EPS of $14.05. THG shares are trading lower by 1.8% to $108.

August 15, 2023 | 6:47 pm
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Hanover Insurance Group's price target has been lowered to $119 from $124 due to projected higher loss ratios and lower investment income. The company's shares are currently trading lower.
The analyst's projection of higher loss ratios and lower investment income for Hanover Insurance Group is a negative signal for the company's financial performance. This has led to a decrease in the company's price target and a drop in its share price, indicating a negative short-term impact on the stock.
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IMPORTANCE 80
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