The Hanover Insurance Group (NYSE:THG) Price Target Raised to $180.00

The Hanover Insurance Group (NYSE:THG) had its price target boosted by BMO Capital Markets from $161.00 to $180.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Several other research analysts have also recently weighed in on the company. Piper Sandler lifted their price target on 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. Keefe, Bruyette & Woods boosted their target price on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Morgan Stanley began 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 target on the stock. JMP Securities increased their target price on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Finally, Janney Montgomery Scott lowered The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective on the stock. in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.13.

The Hanover Insurance Group Trading Up 0.3 %

Shares of THG stock opened at $153.93 on Thursday. The stock’s 50 day simple moving average is $156.70 and its two-hundred day simple moving average is $143.08. The company has a market cap of $5.55 billion, a PE ratio of 15.27 and a beta of 0.71. The Hanover Insurance Group has a 1 year low of $119.36 and a 1 year high of $166.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.40 and a quick ratio of 0.40.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, beating the consensus estimate of $2.65 by $0.40. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. Research analysts predict that The Hanover Insurance Group will post 11.41 earnings per share for the current year.

The Hanover Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.34%. This is a boost from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 35.71%.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 6,114 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $162.36, for a total value of $992,669.04. Following the transaction, the executive vice president now directly owns 54,091 shares in the company, valued at $8,782,214.76. This represents a 10.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 29,051 shares of company stock worth $4,556,803 over the last ninety days. Company insiders own 2.40% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of The Hanover Insurance Group by 20.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,931 shares of the insurance provider’s stock worth $619,000 after purchasing an additional 823 shares during the period. Raymond James & Associates grew its position in shares of The Hanover Insurance Group by 1.5% in the second quarter. Raymond James & Associates now owns 10,048 shares of the insurance provider’s stock valued at $1,260,000 after purchasing an additional 152 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of The Hanover Insurance Group during the 2nd quarter worth approximately $42,000. Everhart Financial Group Inc. raised its position in shares of The Hanover Insurance Group by 7.3% during the 2nd quarter. Everhart Financial Group Inc. now owns 2,676 shares of the insurance provider’s stock worth $336,000 after purchasing an additional 182 shares during the last quarter. Finally, AMG National Trust Bank purchased a new stake in The Hanover Insurance Group in the 2nd quarter valued at approximately $673,000. 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.