The Hanover Insurance Group (NYSE:THG) Price Target Raised to $250.00

The Hanover Insurance Group (NYSE:THG) had its target price raised by Citizens Jmp from $240.00 to $250.00 in a report released on Thursday,Benzinga reports. They currently have a market outperform rating on the insurance provider’s stock.

A number of other research firms also recently issued reports on THG. Oppenheimer restated an “outperform” rating and issued a $260.00 price target on shares of The Hanover Insurance Group in a research report on Tuesday, October 13th. Royal Bank Of Canada boosted their price objective on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of The Hanover Insurance Group from a “buy (a)” rating to a “buy (a+)” rating in a research note on Thursday, October 8th. Citigroup reissued a “market outperform” rating on shares of The Hanover Insurance Group in a report on Thursday. Finally, Piper Sandler cut shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price on the stock. in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $235.00.

The Hanover Insurance Group Trading Up 2.8%

Shares of NYSE THG opened at $241.75 on Thursday. The company has a quick ratio of 0.38, a current ratio of 0.39 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $226.42 and its two-hundred day moving average price is $200.05. The Hanover Insurance Group has a 52-week low of $166.54 and a 52-week high of $242.54. The stock has a market capitalization of $8.42 billion, a P/E ratio of 11.56 and a beta of 0.23.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.81 billion. The Hanover Insurance Group had a return on equity of 21.63% and a net margin of 10.97%. During the same period in the previous year, the business earned $5.09 EPS. On average, analysts anticipate that The Hanover Insurance Group will post 20.52 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were given a dividend of $0.95 per share. The ex-dividend date was Friday, September 11th. This represents a $3.80 annualized dividend and a dividend yield of 1.6%. The Hanover Insurance Group’s dividend payout ratio is currently 18.17%.

Insider Transactions at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $231.50, for a total value of $231,500.00. Following the sale, the director directly owned 2,270 shares in the company, valued at $525,505. This trade represents a 30.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dennis Kerrigan sold 2,104 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $222.41, for a total transaction of $467,950.64. Following the transaction, the executive vice president directly owned 12,003 shares of the company’s stock, valued at $2,669,587.23. The trade was a 14.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 9,655 shares of company stock worth $2,145,846. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On The Hanover Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in THG. Basecamp Wealth Advisors LLC increased its position in The Hanover Insurance Group by 19.1% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 55 shares during the period. Quadrant Capital Group LLC boosted its position in The Hanover Insurance Group by 0.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 6,841 shares of the insurance provider’s stock worth $1,522,000 after acquiring an additional 56 shares during the period. EverSource Wealth Advisors LLC boosted its position in The Hanover Insurance Group by 5.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider’s stock worth $195,000 after acquiring an additional 59 shares during the period. Versant Capital Management Inc grew its stake in shares of The Hanover Insurance Group by 7.1% in the third quarter. Versant Capital Management Inc now owns 922 shares of the insurance provider’s stock worth $197,000 after purchasing an additional 61 shares in the last quarter. Finally, World Investment Advisors grew its stake in shares of The Hanover Insurance Group by 3.1% in the first quarter. World Investment Advisors now owns 2,359 shares of the insurance provider’s stock worth $409,000 after purchasing an additional 71 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting The Hanover Insurance Group

Here are the key news stories impacting The Hanover Insurance Group this week:

• Positive Sentiment: Third-quarter adjusted earnings were $5.15 per share, exceeding consensus estimates of $4.62, while earnings also improved from $5.09 in the year-ago quarter. The earnings beat supports confidence in THG’s profitability and helped reinforce recent stock momentum. Hanover Insurance Group Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management expects the full-year combined ratio to clearly outperform its original guidance, indicating stronger-than-anticipated underwriting performance. Although the company anticipates a 5.2% catastrophe load in the fourth quarter, the improved full-year outlook is a favorable signal for investors. Hanover Outlines Q4 Catastrophe Load and Full-Year Combined Ratio Outlook
• Positive Sentiment: Citizens JMP raised its price target from $240 to $250 and assigned a “market outperform” rating, implying additional upside from the stock’s current level. Citizens JMP THG Recommendation
• Positive Sentiment: RBC increased its target from $235 to $245 while maintaining a “sector perform” rating, reflecting a modestly higher valuation view despite a neutral stance. Royal Bank of Canada THG Recommendation
• Neutral Sentiment: Revenue of $1.74 billion fell short of the $1.81 billion analyst estimate, and reported profit declined according to some coverage, tempering the otherwise strong earnings reaction. The Hanover Insurance Group Reports Sales Below Estimates
• Negative Sentiment: Morgan Stanley raised its price target from $230 to $235 but retained an “equal weight” rating; the revised target remains below the current share price, signaling limited near-term upside in its view. Morgan Stanley THG Recommendation

The Hanover Insurance Group Company Profile

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.