Keefe, Bruyette & Woods Increases The Hanover Insurance Group (NYSE:THG) Price Target to $176.00

The Hanover Insurance Group (NYSE:THG) had its target price raised by equities research analysts at Keefe, Bruyette & Woods from $170.00 to $176.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 19.46% from the company’s previous close.

Several other research firms have also recently weighed in on THG. Morgan Stanley initiated coverage on The Hanover Insurance Group in a report on Thursday, December 5th. They issued an “equal weight” rating and a $170.00 price objective for the company. BMO Capital Markets raised their price target on 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. JMP Securities boosted their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Piper Sandler upped their price objective on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Bank of America lifted their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.88.

The Hanover Insurance Group Stock Performance

NYSE:THG opened at $147.33 on Friday. 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 Hanover Insurance Group has a fifty-two week low of $119.66 and a fifty-two week high of $166.13. The firm has a market cap of $5.31 billion, a PE ratio of 14.62 and a beta of 0.72. The business has a 50 day moving average price of $157.59 and a 200-day moving average price of $146.12.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.40. The firm had revenue of $1.57 billion for 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 quarter in the previous year, the company earned $0.19 earnings per share. Equities research analysts predict that The Hanover Insurance Group will post 11.41 earnings per share for the current year.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 12,000 shares of The Hanover Insurance Group stock in a transaction on Friday, October 18th. The stock was sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the completion of the transaction, the executive vice president now owns 66,091 shares in the company, valued at approximately $10,249,392.28. The trade was a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 28,900 shares of company stock valued at $4,534,151 over the last quarter. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On The Hanover Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of THG. Point72 Hong Kong Ltd purchased a new stake in The Hanover Insurance Group during the 2nd quarter valued at about $25,000. True Wealth Design LLC bought a new position in shares of The Hanover Insurance Group in the third quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new stake in shares of The Hanover Insurance Group during the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of The Hanover Insurance Group during the third quarter valued at approximately $30,000. Finally, GAMMA Investing LLC raised its holdings in 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 acquiring an additional 235 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors.

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.