The Hanover Insurance Group (NYSE:THG) Price Target Lowered to $158.00 at Bank of America

The Hanover Insurance Group (NYSE:THG) had its price target decreased by stock analysts at Bank of America from $161.00 to $158.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Bank of America‘s price target points to a potential upside of 19.29% from the company’s current price.

Several other equities analysts have also issued reports on THG. Oppenheimer boosted their price target on shares of The Hanover Insurance Group from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Piper Sandler boosted their price target on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods boosted their price target on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, JMP Securities boosted their price target on shares of The Hanover Insurance Group from $150.00 to $160.00 and gave the company a “market outperform” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $152.17.

The Hanover Insurance Group Trading Down 0.9 %

THG traded down $1.16 during trading on Tuesday, reaching $132.45. 38,275 shares of the company’s stock were exchanged, compared to its average volume of 173,982. The company’s fifty day moving average price is $128.19 and its 200-day moving average price is $130.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.39 and a current ratio of 0.39. The Hanover Insurance Group has a fifty-two week low of $103.82 and a fifty-two week high of $139.25. The firm has a market capitalization of $4.76 billion, a PE ratio of 29.62 and a beta of 0.68.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, hitting analysts’ consensus estimates of $1.88. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the business earned ($1.91) EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts forecast that The Hanover Insurance Group will post 10.53 EPS for the current year.

Insider Buying and Selling

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,119 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $132.25, for a total transaction of $147,987.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in The Hanover Insurance Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,623,766 shares of the insurance provider’s stock worth $439,998,000 after buying an additional 13,030 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of The Hanover Insurance Group by 27.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,214,520 shares of the insurance provider’s stock valued at $147,467,000 after purchasing an additional 264,483 shares during the period. Victory Capital Management Inc. raised its holdings in shares of The Hanover Insurance Group by 7.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,033,560 shares of the insurance provider’s stock valued at $125,495,000 after purchasing an additional 75,737 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of The Hanover Insurance Group by 1.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,008,866 shares of the insurance provider’s stock valued at $137,377,000 after purchasing an additional 16,040 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of The Hanover Insurance Group by 75.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 965,374 shares of the insurance provider’s stock valued at $117,217,000 after purchasing an additional 414,993 shares during the period. 86.61% of the stock is owned by institutional investors.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.