Piper Sandler Boosts The Hanover Insurance Group (NYSE:THG) Price Target to $162.00

The Hanover Insurance Group (NYSE:THG) had its price objective upped by Piper Sandler from $147.00 to $162.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price target would indicate a potential upside of 19.14% from the stock’s previous close.

THG has been the topic of a number of other research reports. Oppenheimer raised their price objective on The Hanover Insurance Group from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. JMP Securities raised their target price 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. Finally, Keefe, Bruyette & Woods upped their price target on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.00.

The Hanover Insurance Group Stock Performance

Shares of The Hanover Insurance Group stock traded up $0.95 on Friday, hitting $135.98. The stock had a trading volume of 4,492 shares, compared to its average volume of 172,440. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 30.49 and a beta of 0.68. The business’s 50 day moving average is $128.07 and its two-hundred day moving average is $130.37. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.31. 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 released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, meeting the consensus estimate of $1.88. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.66%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company posted ($1.91) earnings per share. The Hanover Insurance Group’s revenue was up 2.2% compared to the same quarter last year. Analysts forecast that The Hanover Insurance Group will post 10.53 EPS for the current year.

Insider Activity at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 1,119 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $132.25, for a total value of $147,987.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,119 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $132.25, for a total value of $147,987.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Willard T. Lee sold 1,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $135.94, for a total value of $135,940.00. Following the completion of the transaction, the executive vice president now owns 4,398 shares of the company’s stock, valued at $597,864.12. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in shares of The Hanover Insurance Group by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 760,775 shares of the insurance provider’s stock worth $92,374,000 after acquiring an additional 14,609 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 worth $117,217,000 after purchasing an additional 414,993 shares during the period. Wellington Management Group LLP boosted its stake in shares of The Hanover Insurance Group by 149.4% in the 4th quarter. Wellington Management Group LLP now owns 417,767 shares of the insurance provider’s stock valued at $50,725,000 after purchasing an additional 250,254 shares during the last quarter. Norges Bank acquired a new stake in shares of The Hanover Insurance Group during the fourth quarter worth $48,900,000. Finally, Buckhead Capital Management LLC increased its position in shares of The Hanover Insurance Group by 48.5% during the fourth quarter. Buckhead Capital Management LLC now owns 15,440 shares of the insurance provider’s stock worth $1,875,000 after buying an additional 5,045 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.