The Hanover Insurance Group (NYSE:THG) Price Target Raised to $235.00

The Hanover Insurance Group (NYSE:THG) had its price target increased by research analysts at Morgan Stanley from $230.00 to $235.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley‘s target price would suggest a potential downside of 2.70% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $260.00 price target on shares of The Hanover Insurance Group in a report on Tuesday, October 13th. Keefe, Bruyette & Woods increased their price objective on The Hanover Insurance Group from $222.00 to $232.00 and gave the company a “market perform” rating in a report on Friday, September 18th. Zacks Research raised The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Piper Sandler cut 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. Finally, Citizens Jmp upped their price target on The Hanover Insurance Group from $240.00 to $250.00 and gave the company a “market outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.00.

The Hanover Insurance Group Stock Up 2.7%

NYSE THG traded up $6.41 on Friday, hitting $241.53. 112,976 shares of the stock were exchanged, compared to its average volume of 316,140. The Hanover Insurance Group has a fifty-two week low of $166.54 and a fifty-two week high of $241.85. The company has a 50-day moving average price of $226.06 and a 200-day moving average price of $199.71. 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 company has a market cap of $8.41 billion, a PE ratio of 11.55 and a beta of 0.23.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, October 28th. The insurance provider reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.53. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.81 billion. The Hanover Insurance Group had a net margin of 10.97% and a return on equity of 21.39%. During the same period last year, the business earned $5.09 EPS. Sell-side analysts anticipate that The Hanover Insurance Group will post 20.35 EPS for the current fiscal year.

Insider Activity

In other news, Director Jane Carlin sold 1,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $231.50, for a total value of $231,500.00. Following the completion of the sale, the director directly owned 2,270 shares of the company’s stock, valued at approximately $525,505. The trade was a 30.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dennis Kerrigan sold 6,551 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total value of $1,446,395.29. Following the completion of the sale, the executive vice president directly owned 12,003 shares of the company’s stock, valued at approximately $2,650,142.37. This trade represents a 35.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 9,655 shares of company stock worth $2,145,846. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of The Hanover Insurance Group in the second quarter valued at about $756,471,000. Dimensional Fund Advisors LP raised its position in The Hanover Insurance Group by 16.4% in the first quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock worth $168,179,000 after acquiring an additional 136,998 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of The Hanover Insurance Group by 3.2% in the first quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock valued at $143,416,000 after purchasing an additional 25,945 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at approximately $69,481,000. Finally, Bank of America Corp DE purchased a new stake in The Hanover Insurance Group during the second quarter worth $47,734,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.

The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers’ compensation and other specialized coverages.

The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.