The Hanover Insurance Group (NYSE:THG) Price Target Raised to $175.00

The Hanover Insurance Group (NYSE:THG) had its target price lifted by Piper Sandler from $162.00 to $175.00 in a research report released on Friday morning, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Several other equities analysts have also recently issued reports on THG. JMP Securities boosted their target price on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods upped their price target on The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Bank of America upped their price target on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Oppenheimer upped their price target on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.20.

The Hanover Insurance Group Price Performance

THG opened at $147.14 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.40 and a current ratio of 0.40. The Hanover Insurance Group has a 52-week low of $112.22 and a 52-week high of $155.84. The stock has a market capitalization of $5.29 billion, a PE ratio of 14.60 and a beta of 0.70. The stock’s 50 day moving average price is $147.78 and its 200-day moving average price is $136.72.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.40. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm earned $0.19 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts predict that The Hanover Insurance Group will post 10.92 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.85 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.31%. The Hanover Insurance Group’s dividend payout ratio is currently 33.73%.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 12,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the transaction, the executive vice president now directly owns 66,091 shares of the company’s stock, valued at $10,249,392.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 4,800 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $150.41, for a total value of $721,968.00. Following the transaction, the executive vice president now owns 80,790 shares of the company’s stock, valued at approximately $12,151,623.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey M. Farber sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $155.08, for a total value of $1,860,960.00. Following the transaction, the executive vice president now owns 66,091 shares of the company’s stock, valued at $10,249,392.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,303 shares of company stock valued at $4,372,203. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On The Hanover Insurance Group

Institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in The Hanover Insurance Group during the 3rd quarter valued at approximately $26,000. Point72 Hong Kong Ltd purchased a new position in The Hanover Insurance Group during the 2nd quarter valued at approximately $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of The Hanover Insurance Group in the 2nd quarter valued at approximately $42,000. Capital Performance Advisors LLP bought a new stake in shares of The Hanover Insurance Group in the 3rd quarter valued at approximately $60,000. Finally, UMB Bank n.a. lifted its stake in shares of The Hanover Insurance Group by 35.4% in the 3rd quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Company Profile

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.