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

The Hanover Insurance Group (NYSE:THG) had its price objective raised by Bank of America from $158.00 to $170.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

Other equities research analysts have also issued reports about the company. Piper Sandler raised their price objective on The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods increased their price target on The Hanover Insurance Group from $142.00 to $144.00 and gave the company a market perform rating in a research report on Tuesday, August 13th. Finally, JMP Securities boosted their price objective on The Hanover Insurance Group from $150.00 to $160.00 and gave the stock a market outperform rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, The Hanover Insurance Group currently has an average rating of Moderate Buy and an average price target of $160.20.

The Hanover Insurance Group Price Performance

Shares of The Hanover Insurance Group stock opened at $147.66 on Thursday. The Hanover Insurance Group has a 52 week low of $109.55 and a 52 week high of $150.95. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.31. The stock has a market cap of $5.31 billion, a PE ratio of 33.11 and a beta of 0.69. The company’s 50-day moving average price is $142.55 and its two-hundred day moving average price is $134.56.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, hitting analysts’ consensus estimates of $1.88. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.49 billion. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.91) EPS. As a group, sell-side analysts anticipate that The Hanover Insurance Group will post 10.99 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The firm also recently declared 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. This represents a $3.40 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Friday, September 13th. The Hanover Insurance Group’s payout ratio is 76.23%.

Insiders Place Their Bets

In other news, EVP Jeffrey M. Farber sold 300 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $150.00, for a total value of $45,000.00. Following the transaction, the executive vice president now owns 89,733 shares in the company, valued at $13,459,950. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Jeffrey M. Farber sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $45,000.00. Following the completion of the sale, the executive vice president now directly owns 89,733 shares in the company, valued at approximately $13,459,950. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey M. Farber sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $150.11, for a total transaction of $180,132.00. Following the completion of the transaction, the executive vice president now owns 85,983 shares in the company, valued at approximately $12,906,908.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,352 shares of company stock worth $1,766,623. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of The Hanover Insurance Group

A number of institutional investors have recently bought and sold shares of THG. Point72 Hong Kong Ltd purchased a new stake in shares of The Hanover Insurance Group during the 2nd quarter worth about $25,000. Riverview Trust Co acquired a new position in The Hanover Insurance Group in the first quarter worth approximately $31,000. Quarry LP bought a new position in The Hanover Insurance Group during the fourth quarter valued at approximately $34,000. 1620 Investment Advisors Inc. acquired a new stake in The Hanover Insurance Group in the second quarter valued at approximately $42,000. Finally, GHP Investment Advisors Inc. grew its position in The Hanover Insurance Group by 64.9% in the second quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds 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.