Analysts Set The Hanover Insurance Group, Inc. (NYSE:THG) PT at $223.29

The Hanover Insurance Group, Inc. (NYSE:THG) has been given an average rating of “Moderate Buy” by the ten brokerages that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $223.5714.

A number of equities research analysts have recently commented on the company. BMO Capital Markets cut The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and raised their target price for the company from $194.00 to $203.00 in a research report on Tuesday, May 19th. Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. Royal Bank Of Canada raised their price objective on The Hanover Insurance Group from $215.00 to $235.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Piper Sandler cut The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective for the company. in a research report on Wednesday, July 15th. Finally, Citizens Jmp upped their target price on The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 29th.

The Hanover Insurance Group Stock Performance

THG opened at $228.98 on Friday. The firm has a fifty day moving average price of $210.72 and a 200 day moving average price of $189.77. The Hanover Insurance Group has a 1 year low of $165.50 and a 1 year high of $236.07. The stock has a market cap of $7.97 billion, a P/E ratio of 10.93 and a beta of 0.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.38 and a quick ratio of 0.38.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, beating the consensus estimate of $3.84 by $1.47. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $4.35 earnings per share. Equities research analysts anticipate that The Hanover Insurance Group will post 20.15 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group’s payout ratio is presently 18.14%.

The Hanover Insurance Group declared that its board has authorized a share buyback program on Wednesday, May 13th that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the insurance provider to purchase up to 10.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at The Hanover Insurance Group

In other news, EVP Dennis Francis Kerrigan sold 6,262 shares of The Hanover Insurance Group stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $192.99, for a total value of $1,208,503.38. Following the sale, the executive vice president owned 11,988 shares in the company, valued at $2,313,564.12. This trade represents a 34.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John C. Roche sold 8,358 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.74, for a total transaction of $1,619,278.92. Following the sale, the chief executive officer directly owned 141,011 shares of the company’s stock, valued at $27,319,471.14. This represents a 5.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 26,046 shares of company stock valued at $5,095,138. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of hedge funds have recently made changes to their positions in THG. JPL Wealth Management LLC acquired a new stake in shares of The Hanover Insurance Group in the third quarter worth approximately $26,000. McMillan Office Inc. acquired a new position in The Hanover Insurance Group in the 4th quarter valued at $31,000. Entrust Financial LLC purchased a new position in The Hanover Insurance Group in the 4th quarter valued at $33,000. Clearstead Trust LLC purchased a new position in The Hanover Insurance Group in the 2nd quarter valued at $36,000. Finally, Root Financial Partners LLC boosted its stake in The Hanover Insurance Group by 69.3% during the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.