Analysts at Zacks Investment Research downgraded shares of The Hanover Insurance Group Inc. (NYSE: THG) from Hold to Sell in a research note to investors today. Zacks Investment Research currently has a rating of Sell on the shares. The one-year price target of $91.33 is above the opening price of $74.06, that has caused a number of other analysts to report on the stock in recent days. Looking back over the last year, The Hanover Insurance Group Inc. stock has a high of $91.30. Downgrades are more common when analysts believe that the future prospects for the security have diminished from the original recommendation, often due to a material and major digression in the company’s procedures, future direction or industry.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Yesterday The Hanover Insurance Group Inc. (NYSE: THG) shares last traded at $74.81, an increase of $0.71 from the previous closing price. Opening at $74.06, they varied from $74.06 and $74.83 throughout the day.
The Hanover Insurance Group Inc. (NYSE: THG) now has a market cap of 3.20B.
242,632 shares traded hands yesterday, below normal, out of a total float 42,175,000. Swing traders often use increases in trading volume to determine substantial volume aggregation or circulation by institutional investors, so trading volume is likely to increase in the next few days.
While an increase in trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks delivers a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts that investigate thousands of stocks, so it is good corroboration to see them buying a stock you are considering.
By tracking the activity of these professional investors and how they affect moving averages, traders can make the best trades.
Trades for The Hanover Insurance Group Inc. (NYSE: THG) have ranged from $74.06 – 91.30, and the stock now has a 50-day MA of $77.80 and 200-day MA of $83.63. Today’s last price is 0.18% under the 52 week high of $91.30.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors look for companies that have raised their earnings at least 25% or more over 3 consecutive years.
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