The Hanover Insurance Group (NYSE:THG) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

The Hanover Insurance Group (NYSE:THG) had its target price boosted by equities researchers at Keefe, Bruyette & Woods from $208.00 to $211.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 12.85% from the stock’s current price.

A number of other brokerages have also recently commented on THG. Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research report on Thursday, April 30th. Royal Bank Of Canada increased their target price on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of The Hanover Insurance Group in a research report on Monday, April 20th. Citizens Jmp raised their price objective on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Thursday, April 30th. Finally, Piper Sandler raised their price objective on shares of The Hanover Insurance Group from $204.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $203.60.

The Hanover Insurance Group Stock Performance

Shares of THG stock traded up $0.61 during trading hours on Thursday, hitting $186.98. The company’s stock had a trading volume of 96,870 shares, compared to its average volume of 331,542. The company has a 50 day moving average of $176.75 and a 200 day moving average of $177.20. The stock has a market cap of $6.54 billion, a PE ratio of 9.40 and a beta of 0.31. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group has a 12-month low of $160.70 and a 12-month high of $191.66.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.14 by $1.11. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm posted $3.87 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that The Hanover Insurance Group will post 18.02 EPS for the current fiscal year.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,200 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $180.91, for a total transaction of $217,092.00. Following the sale, the director owned 2,423 shares in the company, valued at approximately $438,344.93. The trade was a 33.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cynthia Egan sold 3,400 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $188.50, for a total value of $640,900.00. Following the sale, the director directly owned 9,359 shares of the company’s stock, valued at approximately $1,764,171.50. The trade was a 26.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.80% of the stock is owned by insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Hedge funds have recently added to or reduced their stakes in the business. JPL Wealth Management LLC acquired a new stake in The Hanover Insurance Group during the 3rd quarter valued at $26,000. Community Bank N.A. acquired a new stake in The Hanover Insurance Group during the 3rd quarter valued at $27,000. McMillan Office Inc. acquired a new stake in The Hanover Insurance Group during the 4th quarter valued at $31,000. Entrust Financial LLC acquired a new stake in The Hanover Insurance Group during the 4th quarter valued at $33,000. Finally, Clearstead Advisors LLC lifted its holdings in The Hanover Insurance Group by 300.0% during the 3rd quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 150 shares during the last quarter. 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.