BMO Capital Markets Issues Positive Forecast for The Hanover Insurance Group (NYSE:THG) Stock Price

The Hanover Insurance Group (NYSE:THG) had its price objective boosted by BMO Capital Markets from $161.00 to $180.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

A number of other analysts have also recently issued reports on the company. Keefe, Bruyette & Woods boosted their target price on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Morgan Stanley assumed coverage on shares of The Hanover Insurance Group in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $170.00 price objective for the company. Bank of America boosted their price objective on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Piper Sandler boosted their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, JMP Securities increased their target price on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

The Hanover Insurance Group Trading Up 0.3 %

Shares of THG opened at $153.93 on Thursday. The Hanover Insurance Group has a fifty-two week low of $119.36 and a fifty-two week high of $166.13. The stock has a fifty day moving average of $156.70 and a two-hundred day moving average of $143.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $5.55 billion, a PE ratio of 15.27 and a beta of 0.71.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.40. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the company earned $0.19 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, analysts forecast that The Hanover Insurance Group will post 11.41 EPS for the current year.

The Hanover Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.90 per share. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The ex-dividend date is Friday, December 13th. This represents a $3.60 annualized dividend and a yield of 2.34%. The Hanover Insurance Group’s payout ratio is presently 35.71%.

Insiders Place Their Bets

In related news, EVP Jeffrey M. Farber sold 4,800 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $150.41, for a total transaction of $721,968.00. Following the completion of the sale, the executive vice president now owns 80,790 shares of the company’s stock, valued at $12,151,623.90. This represents a 5.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 29,051 shares of company stock valued at $4,556,803. Company insiders own 2.40% 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 bought and sold shares of the stock. True Wealth Design LLC acquired a new position in The Hanover Insurance Group during the 3rd quarter worth $25,000. V Square Quantitative Management LLC bought a new stake in shares of The Hanover Insurance Group in the 3rd quarter worth approximately $26,000. Point72 Hong Kong Ltd bought a new stake in The Hanover Insurance Group during the second quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in The Hanover Insurance Group in the third quarter worth approximately $30,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of The Hanover Insurance Group in the second quarter valued at $42,000. 86.61% of the stock is currently owned by institutional investors and hedge funds.

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.