The Hanover Insurance Group (NYSE:THG) Price Target Raised to $205.00 at Piper Sandler

The Hanover Insurance Group (NYSE:THG) had its price objective hoisted by Piper Sandler from $190.00 to $205.00 in a research report released on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the insurance provider’s stock.

A number of other equities analysts have also issued reports on THG. Barclays upgraded shares of The Hanover Insurance Group to a “hold” rating in a research report on Friday, January 24th. Morgan Stanley increased their price objective on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their target price on The Hanover Insurance Group from $176.00 to $179.00 and gave the stock a “market perform” rating in a report on Monday, February 10th. Finally, BMO Capital Markets upped their target price on The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $179.00.

The Hanover Insurance Group Price Performance

NYSE THG opened at $175.27 on Tuesday. The company has a 50-day moving average price of $164.17 and a two-hundred day moving average price of $157.66. The Hanover Insurance Group has a 52 week low of $119.66 and a 52 week high of $176.16. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 14.99 and a beta of 0.65. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.25.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Tuesday, February 4th. The insurance provider reported $5.32 EPS for the quarter, beating the consensus estimate of $3.45 by $1.87. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. Analysts forecast that The Hanover Insurance Group will post 14.37 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, March 14th. The Hanover Insurance Group’s payout ratio is 30.80%.

Insider Transactions at The Hanover Insurance Group

In related news, CEO John C. Roche sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $175.01, for a total value of $35,002.00. Following the completion of the sale, the chief executive officer now owns 124,278 shares in the company, valued at approximately $21,749,892.78. This represents a 0.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% 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 THG. True Wealth Design LLC acquired a new position in The Hanover Insurance Group during the third quarter valued at $25,000. Wilmington Savings Fund Society FSB purchased a new position in The Hanover Insurance Group during the 3rd quarter valued at about $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of The Hanover Insurance Group by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 102 shares during the period. Venturi Wealth Management LLC lifted its position in shares of The Hanover Insurance Group by 49.5% in the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 90 shares in the last quarter. Finally, Eagle Bay Advisors LLC boosted its holdings in shares of The Hanover Insurance Group by 502.1% during the fourth quarter. Eagle Bay Advisors LLC now owns 283 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 236 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.

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.