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

The Hanover Insurance Group (NYSE:THG) had its price objective hoisted by Morgan Stanley from $235.00 to $240.00 in a report issued on Wednesday, Marketbeat reports. They currently have an equal weight rating on the insurance provider’s stock.

Several other research analysts also recently issued reports on the company. Zacks Research raised The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Oppenheimer lifted their target price on The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. Weiss Ratings raised The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, July 30th. Finally, Citizens Jmp raised their price target on The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, The Hanover Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $225.71.

The Hanover Insurance Group Stock Up 0.1%

Shares of NYSE:THG opened at $223.23 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.77 billion, a P/E ratio of 10.66 and a beta of 0.27. The Hanover Insurance Group has a 12 month low of $166.54 and a 12 month high of $236.07. The company’s 50-day moving average price is $217.00 and its two-hundred day moving average price is $193.36.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm posted $4.35 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. As a group, research analysts forecast that The Hanover Insurance Group will post 20.17 EPS for the current fiscal year.

The Hanover Insurance Group declared that its board has initiated a stock buyback program on Wednesday, May 13th that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 10.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 18.14%.

Insiders Place Their Bets

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

Institutional Trading of The Hanover Insurance Group

A number of hedge funds have recently modified their holdings of the company. JPL Wealth Management LLC acquired a new position in The Hanover Insurance Group during the third quarter valued at approximately $26,000. McMillan Office Inc. acquired a new stake in The Hanover Insurance Group in the fourth quarter worth $31,000. Entrust Financial LLC bought a new position in shares of The Hanover Insurance Group during the fourth quarter worth $33,000. Clearstead Trust LLC bought a new position in shares of The Hanover Insurance Group during the second quarter worth $36,000. Finally, Root Financial Partners LLC grew its holdings in shares of The Hanover Insurance Group by 69.3% in the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock valued at $41,000 after buying an additional 97 shares during the period. 86.61% of the stock is currently owned by institutional investors and hedge funds.

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.