The Hanover Insurance Group (NYSE:THG) Price Target Raised to $177.00

The Hanover Insurance Group (NYSE:THG) had its target price lifted by Oppenheimer from $165.00 to $177.00 in a research note published on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the insurance provider’s stock.

Other equities analysts also recently issued research reports about the company. JMP Securities increased their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research report on Thursday. Piper Sandler boosted their price target on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Bank of America increased their price objective on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $168.20.

The Hanover Insurance Group Price Performance

THG stock opened at $147.90 on Friday. The Hanover Insurance Group has a 52 week low of $112.22 and a 52 week high of $155.84. The firm has a market capitalization of $5.32 billion, a P/E ratio of 14.67 and a beta of 0.70. The company has a fifty day simple moving average of $147.58 and a two-hundred day simple moving average of $136.51. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.40. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business earned $0.19 EPS. The business’s revenue was up 3.2% on a year-over-year basis. Analysts anticipate that The Hanover Insurance Group will post 10.92 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.30%. The ex-dividend date was Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio is presently 33.73%.

Insider Transactions at The Hanover Insurance Group

In related news, EVP Jeffrey M. Farber sold 300 shares of The Hanover Insurance Group stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total value of $45,000.00. Following the completion of the sale, the executive vice president now directly owns 89,733 shares in the company, valued at $13,459,950. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the completion of the transaction, the executive vice president now directly owns 66,091 shares of the company’s stock, valued at approximately $10,249,392.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey M. Farber sold 300 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $45,000.00. Following the completion of the sale, the executive vice president now directly owns 89,733 shares in the company, valued at $13,459,950. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,303 shares of company stock worth $4,372,203. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Hedge funds have recently added to or reduced their stakes in the business. State of Michigan Retirement System boosted its stake in shares of The Hanover Insurance Group by 3.5% in the first quarter. State of Michigan Retirement System now owns 8,832 shares of the insurance provider’s stock worth $1,203,000 after buying an additional 300 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of The Hanover Insurance Group by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 44,956 shares of the insurance provider’s stock valued at $6,122,000 after purchasing an additional 166 shares during the period. BNP Paribas Financial Markets boosted its holdings in The Hanover Insurance Group by 65.9% during the first quarter. BNP Paribas Financial Markets now owns 11,926 shares of the insurance provider’s stock worth $1,624,000 after buying an additional 4,738 shares in the last quarter. FinTrust Capital Advisors LLC increased its holdings in The Hanover Insurance Group by 4,081.6% in the first quarter. FinTrust Capital Advisors LLC now owns 2,049 shares of the insurance provider’s stock valued at $279,000 after buying an additional 2,000 shares in the last quarter. Finally, Markel Group Inc. raised its position in shares of The Hanover Insurance Group by 6.1% in the first quarter. Markel Group Inc. now owns 227,000 shares of the insurance provider’s stock worth $30,911,000 after acquiring an additional 13,000 shares during the period. 86.61% of the stock is owned by hedge funds and other 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.