Keefe, Bruyette & Woods Increases The Hanover Insurance Group (NYSE:THG) Price Target to $144.00

The Hanover Insurance Group (NYSE:THG) had its price objective hoisted by equities research analysts at Keefe, Bruyette & Woods from $142.00 to $144.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 7.97% from the stock’s previous close.

A number of other brokerages also recently weighed in on THG. Bank of America decreased their price target on The Hanover Insurance Group from $161.00 to $158.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Piper Sandler lifted their target price on The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Oppenheimer increased their price target on The Hanover Insurance Group from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, JMP Securities lifted their price objective on shares of The Hanover Insurance Group from $150.00 to $160.00 and gave the company a “market outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $152.50.

The Hanover Insurance Group Price Performance

The Hanover Insurance Group stock opened at $133.37 on Tuesday. The stock’s 50 day moving average is $128.57 and its 200 day moving average is $130.73. The Hanover Insurance Group has a one year low of $103.82 and a one year high of $139.25. The firm has a market cap of $4.79 billion, a P/E ratio of 29.90 and a beta of 0.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.39 and a quick ratio of 0.39.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share (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 for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company earned ($1.91) EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts expect that The Hanover Insurance Group will post 10.53 EPS for the current year.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,119 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $132.25, for a total transaction of $147,987.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.40% of the stock is currently owned by insiders.

Institutional Trading of The Hanover Insurance Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new position in shares of The Hanover Insurance Group during the second quarter valued at approximately $25,000. Riverview Trust Co purchased a new position in The Hanover Insurance Group in the 1st quarter valued at approximately $31,000. Quarry LP bought a new stake in The Hanover Insurance Group during the 4th quarter valued at $34,000. 1620 Investment Advisors Inc. purchased a new stake in shares of The Hanover Insurance Group during the second quarter worth $42,000. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of The Hanover Insurance Group by 64.9% in the second quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 168 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.