JMP Securities Reaffirms “Market Outperform” Rating for The Hanover Insurance Group (NYSE:THG)

JMP Securities reaffirmed their market outperform rating on shares of The Hanover Insurance Group (NYSE:THG) in a research report report published on Tuesday, Benzinga reports. JMP Securities currently has a $160.00 price objective on the insurance provider’s stock.

THG has been the topic of a number of other research reports. Piper Sandler upped their price target on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods raised their target price on The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Finally, Bank of America lifted their target price on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, The Hanover Insurance Group has an average rating of “Moderate Buy” and an average price target of $160.20.

The Hanover Insurance Group Trading Up 2.9 %

Shares of THG stock opened at $154.91 on Tuesday. The Hanover Insurance Group has a 1-year low of $112.22 and a 1-year high of $154.94. 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 $5.57 billion, a price-to-earnings ratio of 34.73 and a beta of 0.69. The stock has a 50-day moving average of $143.59 and a 200-day moving average of $134.84.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.88. The business had revenue of $1.54 billion during 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 company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.91) EPS. On average, equities research analysts forecast that The Hanover Insurance Group will post 10.99 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.85 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a yield of 2.19%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 76.23%.

Insider Activity at The Hanover Insurance Group

In related news, SVP Warren E. Barnes sold 500 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $138.25, for a total value of $69,125.00. Following the sale, the senior vice president now owns 3,013 shares in the company, valued at $416,547.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Warren E. Barnes sold 500 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $138.25, for a total value of $69,125.00. Following the completion of the sale, the senior vice president now directly owns 3,013 shares of the company’s stock, valued at $416,547.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathy S. Lane sold 1,884 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,303 shares of company stock valued at $2,511,243. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of The Hanover Insurance Group during the 3rd quarter worth approximately $26,000. Point72 Hong Kong Ltd bought a new position in The Hanover Insurance Group during the second quarter valued at about $25,000. Riverview Trust Co bought a new position in The Hanover Insurance Group during the first quarter valued at about $31,000. Quarry LP purchased a new stake in The Hanover Insurance Group during the fourth quarter worth about $34,000. Finally, 1620 Investment Advisors Inc. bought a new stake in The Hanover Insurance Group in the second quarter worth about $42,000. 86.61% of the stock is owned by institutional investors.

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.