The Hanover Insurance Group (NYSE:THG) PT Raised to $162.00

The Hanover Insurance Group (NYSE:THG) had its price target hoisted by Piper Sandler from $147.00 to $162.00 in a report released on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the insurance provider’s stock.

A number of other brokerages have also weighed in on THG. Oppenheimer raised 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. Keefe, Bruyette & Woods raised 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 raised 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $152.17.

The Hanover Insurance Group Price Performance

Shares of NYSE THG traded down $1.16 during mid-day trading on Friday, hitting $132.45. 38,275 shares of the stock were exchanged, compared to its average volume of 173,982. The company has a market cap of $4.76 billion, a P/E ratio of 29.62 and a beta of 0.68. The stock’s fifty day simple moving average is $128.19 and its two-hundred day simple moving average 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 twelve month low of $103.82 and a twelve month high of $139.25.

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

The Hanover Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, June 13th. The Hanover Insurance Group’s dividend payout ratio is presently 76.23%.

Insider Transactions at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 1,119 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $132.25, for a total value of $147,987.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverview Trust Co acquired a new stake in The Hanover Insurance Group in the 1st quarter valued at $31,000. UMB Bank n.a. increased its stake in shares of The Hanover Insurance Group by 55.6% during the 4th quarter. UMB Bank n.a. now owns 235 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 84 shares during the last quarter. Quarry LP acquired a new position in shares of The Hanover Insurance Group during the 4th quarter worth about $34,000. 1620 Investment Advisors Inc. acquired a new position in shares of The Hanover Insurance Group during the 2nd quarter worth about $42,000. Finally, Baystate Wealth Management LLC increased its stake in shares of The Hanover Insurance Group by 4,400.0% during the 4th quarter. Baystate Wealth Management LLC now owns 360 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 352 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

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.