The Hanover Insurance Group (NYSE:THG) Given New $176.00 Price Target at Keefe, Bruyette & Woods

The Hanover Insurance Group (NYSE:THG) had its price objective boosted by equities researchers at Keefe, Bruyette & Woods from $170.00 to $176.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 19.90% from the company’s current price.

THG has been the subject of a number of other reports. Oppenheimer increased their price objective on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JMP Securities raised their target price on shares of 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. Janney Montgomery Scott cut shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 target price for the company. in a research note on Thursday, November 21st. Piper Sandler increased their price objective on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Morgan Stanley initiated coverage on shares of The Hanover Insurance Group in a research report on Thursday, December 5th. They set an “equal weight” rating and a $170.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.88.

The Hanover Insurance Group Stock Performance

THG traded down $5.64 during trading on Friday, hitting $146.79. The company’s stock had a trading volume of 36,929 shares, compared to its average volume of 157,426. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27. The Hanover Insurance Group has a one year low of $119.66 and a one year high of $166.13. The firm has a market cap of $5.29 billion, a PE ratio of 14.56 and a beta of 0.72. The business’s 50 day simple moving average is $157.61 and its 200-day simple moving average is $145.79.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.40. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 earnings per share. As a group, sell-side analysts predict that The Hanover Insurance Group will post 11.41 EPS for the current fiscal year.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 4,800 shares of the firm’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 transaction, the executive vice president now owns 80,790 shares of the company’s stock, valued at approximately $12,151,623.90. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 28,900 shares of company stock worth $4,534,151 in the last 90 days. 2.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd purchased a new position in The Hanover Insurance Group during the 2nd quarter valued at about $25,000. True Wealth Design LLC purchased a new position in shares of The Hanover Insurance Group in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new position in shares of The Hanover Insurance Group in the 3rd quarter worth approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of The Hanover Insurance Group in the 3rd quarter worth approximately $30,000. Finally, GAMMA Investing LLC grew its position in shares of The Hanover Insurance Group by 226.0% in the 4th quarter. GAMMA Investing LLC now owns 339 shares of the insurance provider’s stock worth $52,000 after buying an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

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.