The Hanover downgraded to Market Perform from Outperform at Keefe Bruyette

Keefe Bruyette downgraded The Hanover to Market Perform from Outperform with a price target of $220, up from $211. Following recent strength, valuation appears fairly balanced between solid near-term earnings expectations and slowing pricing trends in small-account and middle-market commercial P&C insurance, the analyst tells investors in a research note.