BMO Capital analyst Michael Zaremski initiated coverage of The Hanover with a Market Perform rating and $141 price target. Though The Hanover " boasts a differentiated home & auto portfolio," he has concerns given that personal lines profitability is "skewed more towards risk vs. reward when examining current trends versus consensus expectations," the analyst tells investors.
Published first on TheFly
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- The Hanover expects to report Q4 operating EPS ($1.05), consensus $2.18
- The Hanover estimates Q4 catastrophe losses of $190M before taxes
- The Hanover Estimates Fourth Quarter Catastrophe Losses; Full-Year Combined Ratio, Excluding Catastrophes in Line with Guidance
- The Hanover price target raised to $151 from $144 at Piper Sandler
- The Hanover Insurance Group appoints David Lovely as chief claims officer
