The Hanover Insurance Group (NYSE:THG) Price Target Raised to $170.00

The Hanover Insurance Group (NYSE:THG) had its target price upped by Keefe, Bruyette & Woods from $164.00 to $170.00 in a research note released on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the insurance provider’s stock.

Several other equities analysts also recently commented on the stock. Oppenheimer upped their price target on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Bank of America raised their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. JMP Securities boosted their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Finally, Piper Sandler upped their price target on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.40.

The Hanover Insurance Group Stock Performance

NYSE:THG traded up $3.29 on Thursday, hitting $159.64. The company’s stock had a trading volume of 117,049 shares, compared to its average volume of 174,261. The stock has a fifty day moving average of $148.61 and a two-hundred day moving average of $137.13. The Hanover Insurance Group has a one year low of $112.22 and a one year high of $160.23. The firm has a market capitalization of $5.75 billion, a P/E ratio of 15.51 and a beta of 0.70. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data 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 firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. Research analysts predict that The Hanover Insurance Group will post 11.22 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.85 per share. The ex-dividend date was Friday, September 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.13%. The Hanover Insurance Group’s payout ratio is 33.73%.

Insider Activity at The Hanover Insurance Group

In related news, SVP Warren E. Barnes sold 500 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $138.25, for a total transaction of $69,125.00. Following the transaction, the senior vice president now directly owns 3,013 shares in the company, valued at approximately $416,547.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jeffrey M. Farber sold 12,000 shares of The Hanover Insurance Group stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $155.08, for a total value of $1,860,960.00. Following the completion of the sale, the executive vice president now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Warren E. Barnes sold 500 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $138.25, for a total transaction of $69,125.00. Following the sale, the senior vice president now directly owns 3,013 shares in the company, valued at approximately $416,547.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,303 shares of company stock valued at $4,372,203. 2.40% of the stock is owned by insiders.

Institutional Trading of The Hanover Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Lecap Asset Management Ltd. boosted its holdings in The Hanover Insurance Group by 2.0% in the 3rd quarter. Lecap Asset Management Ltd. now owns 4,202 shares of the insurance provider’s stock worth $622,000 after buying an additional 84 shares during the period. Lowe Brockenbrough & Co. Inc. boosted its holdings in shares of The Hanover Insurance Group by 0.6% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 14,693 shares of the insurance provider’s stock worth $2,176,000 after acquiring an additional 91 shares during the period. O Shaughnessy Asset Management LLC grew its position in shares of The Hanover Insurance Group by 4.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,227 shares of the insurance provider’s stock valued at $303,000 after purchasing an additional 97 shares in the last quarter. Signaturefd LLC raised its stake in shares of The Hanover Insurance Group by 8.7% during the 2nd quarter. Signaturefd LLC now owns 1,336 shares of the insurance provider’s stock valued at $168,000 after purchasing an additional 107 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of The Hanover Insurance Group by 35.4% during the 3rd quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 109 shares during the period. Institutional investors own 86.61% of the company’s stock.

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.