Hanover at a Crossroads: Defensive Quality but Limited Upside — Hold for Now
The Hanover Insurance Group (THG) offers durable underwriting returns, a tidy dividend and low leverage. At $207.56 the stock sits near its 52-week high with a P/E near 10 and free cash flow of $1.25B — attractive on the surface. That said, near-term upside appears capped unless pricing momentum or investment income accelerates. I recommend a Hold:…