Morgan Stanley Issues Positive Forecast for The Hanover Insurance Group (NYSE:THG) Stock Price

The Hanover Insurance Group (NYSE:THG) had its target price boosted by equities research analysts at Morgan Stanley from $165.00 to $170.00 in a report released on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 2.85% from the stock’s current price.

Several other research firms have also issued reports on THG. BMO Capital Markets upped their target price on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Janney Montgomery Scott downgraded shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective for the company. in a research report on Thursday, November 21st. Oppenheimer lifted their target price on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barclays raised The Hanover Insurance Group to a “hold” rating in a report on Friday, January 24th. Finally, Piper Sandler lifted their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $174.88.

The Hanover Insurance Group Price Performance

THG stock opened at $165.29 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.40 and a current ratio of 0.40. The business has a 50-day simple moving average of $155.75 and a two-hundred day simple moving average of $149.81. The company has a market capitalization of $5.96 billion, a P/E ratio of 16.40 and a beta of 0.72. The Hanover Insurance Group has a 52-week low of $119.66 and a 52-week high of $166.98.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $1.87. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. Research analysts expect that The Hanover Insurance Group will post 11.46 EPS for the current fiscal year.

Insider Buying and Selling at The Hanover Insurance Group

In related news, EVP Jeffrey M. Farber sold 6,114 shares of The Hanover Insurance Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $162.36, for a total value of $992,669.04. Following the completion of the sale, the executive vice president now owns 54,091 shares of the company’s stock, valued at approximately $8,782,214.76. This trade represents a 10.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Several institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of The Hanover Insurance Group by 14,711.0% in the third quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider’s stock valued at $81,823,000 after purchasing an additional 548,720 shares during the period. Massachusetts Financial Services Co. MA grew its stake in The Hanover Insurance Group by 10.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider’s stock valued at $219,883,000 after buying an additional 143,339 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in The Hanover Insurance Group during the 4th quarter valued at $21,797,000. Raymond James Financial Inc. purchased a new stake in shares of The Hanover Insurance Group during the fourth quarter worth $8,612,000. Finally, Point72 Asset Management L.P. boosted its holdings in shares of The Hanover Insurance Group by 40.2% in the third quarter. Point72 Asset Management L.P. now owns 164,130 shares of the insurance provider’s stock worth $24,309,000 after acquiring an additional 47,071 shares during the period. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Company Profile

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.