The Hanover Insurance Group, Inc. (NYSE:THG) Receives $174.88 Consensus Target Price from Brokerages

Shares of The Hanover Insurance Group, Inc. (NYSE:THG) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $174.88.

A number of research firms have commented on THG. BMO Capital Markets lifted their target price on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Piper Sandler upped their price objective on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Morgan Stanley began coverage on The Hanover Insurance Group in a report on Thursday, December 5th. They set an “equal weight” rating and a $170.00 target price on the stock. Keefe, Bruyette & Woods upped their price target on The Hanover Insurance Group from $170.00 to $176.00 and gave the company a “market perform” rating in a research note on Friday, January 10th. Finally, JMP Securities lifted their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st.

Insiders Place Their Bets

In other news, EVP Jeffrey M. Farber sold 5,886 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $160.05, for a total transaction of $942,054.30. Following the completion of the transaction, the executive vice president now owns 60,205 shares of the company’s stock, valued at approximately $9,635,810.25. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 12,100 shares of company stock valued at $1,951,223 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of The Hanover Insurance Group by 10.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider’s stock worth $219,883,000 after acquiring an additional 143,339 shares in the last quarter. State Street Corp increased its holdings in The Hanover Insurance Group by 0.3% in the third quarter. State Street Corp now owns 1,239,701 shares of the insurance provider’s stock worth $183,612,000 after purchasing an additional 3,780 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of The Hanover Insurance Group by 0.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 997,011 shares of the insurance provider’s stock valued at $147,667,000 after acquiring an additional 4,717 shares in the last quarter. Geode Capital Management LLC raised its stake in The Hanover Insurance Group by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 660,272 shares of the insurance provider’s stock worth $97,816,000 after buying an additional 16,800 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of The Hanover Insurance Group by 14,711.0% during the third quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider’s stock valued at $81,823,000 after acquiring an additional 548,720 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Up 0.2 %

Shares of NYSE THG opened at $153.38 on Tuesday. 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 firm has a market capitalization of $5.53 billion, a PE ratio of 15.22 and a beta of 0.72. The firm’s 50-day moving average is $156.01 and its 200-day moving average is $149.49. The Hanover Insurance Group has a 1 year low of $119.66 and a 1 year high of $166.13.

The Hanover Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $0.90 per share. The ex-dividend date was Friday, December 13th. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.85. This represents a $3.60 annualized dividend and a dividend yield of 2.35%. The Hanover Insurance Group’s dividend payout ratio is 35.71%.

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.