The Hanover Insurance Group, Inc. (NYSE:THG) Receives $225.71 Consensus Price Target from Brokerages

Shares of The Hanover Insurance Group, Inc. (NYSE:THG) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $225.7143.

THG has been the subject of several recent research reports. Morgan Stanley increased their price target on The Hanover Insurance Group from $235.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. Citizens Jmp lifted their price target on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 29th. Piper Sandler downgraded The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price for the company. in a research note on Wednesday, July 15th. Weiss Ratings raised The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, July 30th. Finally, BMO Capital Markets downgraded The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $194.00 to $203.00 in a research note on Tuesday, May 19th.

Insiders Place Their Bets

In related news, Director Jane D. Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the transaction, the director owned 2,270 shares of the company’s stock, valued at $525,505. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dennis Francis Kerrigan sold 6,551 shares of The Hanover Insurance Group stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the transaction, the executive vice president directly owned 12,003 shares in the company, valued at $2,650,142.37. This represents a 35.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,655 shares of company stock worth $2,145,846 over the last ninety days. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC grew its stake in The Hanover Insurance Group by 61.0% in the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock valued at $15,371,000 after purchasing an additional 33,495 shares during the period. NewEdge Advisors LLC increased its stake in shares of The Hanover Insurance Group by 1,568.9% in the first quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock worth $131,000 after purchasing an additional 706 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in The Hanover Insurance Group by 21.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock valued at $38,052,000 after acquiring an additional 38,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in The Hanover Insurance Group by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock worth $22,445,000 after purchasing an additional 7,712 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of The Hanover Insurance Group by 7.7% in the second quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock valued at $48,155,000 after acquiring an additional 20,294 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Trading Up 0.0%

Shares of THG stock opened at $227.73 on Wednesday. The stock’s fifty day simple moving average is $219.90 and its 200 day simple moving average is $195.19. The Hanover Insurance Group has a twelve month low of $166.54 and a twelve month high of $236.07. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $7.93 billion, a P/E ratio of 10.87 and a beta of 0.27.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, topping the consensus estimate of $3.84 by $1.47. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned $4.35 EPS. As a group, sell-side analysts predict that The Hanover Insurance Group will post 20.17 EPS for the current fiscal year.

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

The Hanover Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio is presently 18.14%.

About The Hanover Insurance Group

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.