The Hanover Insurance Group (NYSE:THG) Price Target Raised to $176.00

The Hanover Insurance Group (NYSE:THG) had its target price raised by stock analysts at Keefe, Bruyette & Woods from $170.00 to $176.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 19.46% from the stock’s current price.

Several other research firms have also recently issued reports on THG. Piper Sandler lifted their price objective on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. JMP Securities lifted their price target on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. BMO Capital Markets boosted their price target on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Janney Montgomery Scott lowered The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective for the company. in a research report on Thursday, November 21st. Finally, Morgan Stanley initiated coverage on The Hanover Insurance Group in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $170.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and a consensus target price of $174.88.

The Hanover Insurance Group Trading Down 3.3 %

Shares of The Hanover Insurance Group stock opened at $147.33 on Friday. The Hanover Insurance Group has a fifty-two week low of $119.66 and a fifty-two week high of $166.13. 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 company has a market capitalization of $5.31 billion, a P/E ratio of 14.62 and a beta of 0.72. The company has a fifty day moving average of $157.59 and a 200 day moving average of $146.12.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.40. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. On average, sell-side analysts anticipate that The Hanover Insurance Group will post 11.41 earnings per share for the current fiscal year.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 4,800 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $150.41, for a total transaction of $721,968.00. Following the transaction, the executive vice president now owns 80,790 shares in the company, valued at $12,151,623.90. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 28,900 shares of company stock worth $4,534,151 over the last ninety days. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On The Hanover Insurance Group

Large investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new stake in The Hanover Insurance Group in the 2nd quarter worth about $25,000. True Wealth Design LLC bought a new position in shares of The Hanover Insurance Group during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new stake in shares of The Hanover Insurance Group in the third quarter worth approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of The Hanover Insurance Group during the 3rd quarter worth approximately $30,000. Finally, GAMMA Investing LLC boosted its holdings in The Hanover Insurance Group by 226.0% during the 4th quarter. GAMMA Investing LLC now owns 339 shares of the insurance provider’s stock valued at $52,000 after acquiring an additional 235 shares during the period. 86.61% of the stock is owned by hedge funds and other institutional investors.

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.