The Hanover Insurance Group (NYSE:THG) Rating Reiterated by JMP Securities

The Hanover Insurance Group (NYSE:THG)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a research report issued on Tuesday, Benzinga reports. They presently have a $160.00 target price on the insurance provider’s stock. JMP Securities’ price objective points to a potential upside of 6.28% from the stock’s previous close.

A number of other brokerages have also weighed in on THG. Bank of America raised their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price target on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. Finally, Piper Sandler upped their target price on The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.20.

The Hanover Insurance Group Stock Performance

Shares of THG opened at $150.54 on Tuesday. The business’s fifty day simple moving average is $143.21 and its two-hundred day simple moving average is $134.73. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.31. The Hanover Insurance Group has a 12 month low of $112.22 and a 12 month high of $151.89. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 33.75 and a beta of 0.69.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share for the quarter, meeting the consensus estimate of $1.88. The Hanover Insurance Group had a return on equity of 12.42% and a net margin of 4.44%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the firm earned ($1.91) EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Research analysts anticipate that The Hanover Insurance Group will post 10.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jeffrey M. Farber sold 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $150.41, for a total transaction of $721,968.00. Following the completion of the sale, the executive vice president now owns 80,790 shares in the company, valued at $12,151,623.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Warren E. Barnes sold 500 shares of The Hanover Insurance Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $138.25, for a total value of $69,125.00. Following the completion of the sale, the senior vice president now owns 3,013 shares in the company, valued at approximately $416,547.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey M. Farber sold 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $150.41, for a total transaction of $721,968.00. Following the completion of the transaction, the executive vice president now directly owns 80,790 shares of the company’s stock, valued at $12,151,623.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,303 shares of company stock valued at $2,511,243 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Several institutional investors have recently modified their holdings of THG. Point72 Hong Kong Ltd purchased a new stake in The Hanover Insurance Group in the second quarter valued at $25,000. Riverview Trust Co acquired a new position in The Hanover Insurance Group during the first quarter worth about $31,000. Quarry LP purchased a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at about $34,000. 1620 Investment Advisors Inc. purchased a new stake in shares of The Hanover Insurance Group in the second quarter valued at about $42,000. Finally, UMB Bank n.a. lifted its stake in shares of The Hanover Insurance Group by 35.4% during the third quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock valued at $62,000 after buying an additional 109 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.