The Hanover Insurance Group (NYSE:THG) Price Target Raised to $240.00

The Hanover Insurance Group (NYSE:THG) had its price target hoisted by Citizens Jmp from $225.00 to $240.00 in a research report released on Wednesday,Benzinga reports. They currently have a market outperform rating on the insurance provider’s stock.

A number of other research firms also recently commented on THG. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $220.00 price objective (up from $211.00) on shares of The Hanover Insurance Group in a report on Wednesday, July 8th. Morgan Stanley boosted their price objective on The Hanover Insurance Group from $220.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Zacks Research cut The Hanover Insurance Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Weiss Ratings raised The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, May 22nd. Finally, Royal Bank Of Canada lifted their price target on The Hanover Insurance Group from $195.00 to $215.00 and gave the stock a “sector perform” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $223.29.

The Hanover Insurance Group Stock Up 1.2%

NYSE THG opened at $232.88 on Wednesday. The business has a fifty day moving average price of $206.86 and a 200 day moving average price of $187.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.38. The company has a market cap of $8.11 billion, a P/E ratio of 11.12 and a beta of 0.28. The Hanover Insurance Group has a one year low of $165.17 and a one year high of $235.15.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company posted $4.35 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Research analysts anticipate that The Hanover Insurance Group will post 18.38 EPS for the current fiscal year.

The Hanover Insurance Group declared that its board has approved a share repurchase plan on Wednesday, May 13th that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 10.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

The Hanover Insurance Group Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio is currently 18.14%.

Insiders Place Their Bets

In other The Hanover Insurance Group news, Director Francisco Aristeguieta sold 1,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $195.37, for a total transaction of $195,370.00. Following the transaction, the director directly owned 4,053 shares of the company’s stock, valued at approximately $791,834.61. This trade represents a 19.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dennis Francis Kerrigan sold 6,262 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $192.99, for a total value of $1,208,503.38. Following the sale, the executive vice president directly owned 11,988 shares of the company’s stock, valued at $2,313,564.12. The trade was a 34.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,108 shares of company stock worth $5,063,751 over the last 90 days. Insiders own 2.80% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

Several hedge funds have recently made changes to their positions in the company. Legato Capital Management LLC acquired a new position in shares of The Hanover Insurance Group during the 4th quarter worth $1,238,000. Intech Investment Management LLC acquired a new stake in shares of The Hanover Insurance Group during the 4th quarter valued at approximately $4,926,000. UBS Group AG lifted its position in shares of The Hanover Insurance Group by 58.7% during the 4th quarter. UBS Group AG now owns 149,300 shares of the insurance provider’s stock valued at $27,288,000 after acquiring an additional 55,220 shares during the period. Norges Bank purchased a new stake in shares of The Hanover Insurance Group during the 4th quarter worth approximately $83,817,000. Finally, Dockside LLC purchased a new stake in shares of The Hanover Insurance Group during the 4th quarter worth approximately $1,225,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Company Profile

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.