The Hanover Insurance Group (NYSE:THG) Price Target Raised to $179.00

The Hanover Insurance Group (NYSE:THG) had its target price upped by Keefe, Bruyette & Woods from $176.00 to $179.00 in a research note released on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the insurance provider’s stock.

Several other analysts also recently commented on THG. Janney Montgomery Scott downgraded shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 target price for the company. in a report on Thursday, November 21st. BMO Capital Markets increased their price objective on The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a report on Friday, January 24th. Morgan Stanley lifted their price target on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Piper Sandler raised their price objective on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $175.25.

The Hanover Insurance Group Trading Down 0.5 %

Shares of The Hanover Insurance Group stock opened at $159.91 on Monday. The Hanover Insurance Group has a 12-month low of $119.66 and a 12-month high of $166.98. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $155.61 and its 200-day moving average is $150.76. The stock has a market cap of $5.76 billion, a P/E ratio of 13.68 and a beta of 0.72.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share for the quarter, topping the consensus estimate of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. Equities research analysts predict that The Hanover Insurance Group will post 14.11 earnings per share for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.25%. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, December 13th. The Hanover Insurance Group’s payout ratio is presently 30.80%.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in The Hanover Insurance Group in the second quarter worth $385,000. CWM LLC raised its stake in shares of The Hanover Insurance Group by 14.8% during the 3rd quarter. CWM LLC now owns 11,104 shares of the insurance provider’s stock worth $1,645,000 after purchasing an additional 1,435 shares during the period. UMB Bank n.a. grew its position in The Hanover Insurance Group by 35.4% during the third quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock valued at $62,000 after buying an additional 109 shares during the period. Creative Planning raised its position in The Hanover Insurance Group by 20.8% in the third quarter. Creative Planning now owns 12,718 shares of the insurance provider’s stock worth $1,884,000 after acquiring an additional 2,193 shares during the period. Finally, NBC Securities Inc. grew its position in shares of The Hanover Insurance Group by 221.9% during the 3rd quarter. NBC Securities Inc. now owns 589 shares of the insurance provider’s stock valued at $87,000 after acquiring an additional 406 shares during the period. 86.61% of the stock is currently owned by 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.