The Hanover Insurance Group (NYSE:THG) Price Target Raised to $170.00

The Hanover Insurance Group (NYSE:THG) had its price target lifted by Morgan Stanley from $163.00 to $170.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s target price indicates a potential upside of 0.57% from the stock’s current price.

A number of other equities research analysts have also recently commented on THG. Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods increased their price objective on The Hanover Insurance Group from $171.00 to $173.00 and gave the company a “market perform” rating in a report on Wednesday, May 7th. Piper Sandler boosted their target price on The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. JMP Securities boosted their price target on The Hanover Insurance Group from $175.00 to $185.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 1st. Finally, StockNews.com upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $179.50.

The Hanover Insurance Group Stock Performance

THG stock opened at $169.04 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50-day moving average price of $165.49 and a 200 day moving average price of $161.21. The company has a market capitalization of $6.07 billion, a P/E ratio of 14.46 and a beta of 0.44. The Hanover Insurance Group has a 1-year low of $119.66 and a 1-year high of $176.16.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.29. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the company posted $3.08 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that The Hanover Insurance Group will post 14.37 EPS for the current fiscal year.

Insider Activity at The Hanover Insurance Group

In related news, EVP Bryan J. Salvatore sold 10,526 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total value of $1,753,631.60. Following the sale, the executive vice president now owns 25,864 shares in the company, valued at $4,308,942.40. This represents a 28.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders have sold a total of 11,027 shares of company stock worth $1,841,309 over the last quarter. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of THG. Norges Bank acquired a new position in The Hanover Insurance Group in the fourth quarter valued at approximately $67,928,000. Vaughan Nelson Investment Management L.P. acquired a new position in The Hanover Insurance Group in the first quarter valued at approximately $64,340,000. Fuller & Thaler Asset Management Inc. lifted its holdings in The Hanover Insurance Group by 45.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 907,760 shares of the insurance provider’s stock valued at $157,905,000 after acquiring an additional 282,233 shares during the period. Franklin Resources Inc. lifted its holdings in The Hanover Insurance Group by 28.6% in the fourth quarter. Franklin Resources Inc. now owns 1,217,919 shares of the insurance provider’s stock valued at $188,363,000 after acquiring an additional 270,491 shares during the period. Finally, Woodline Partners LP lifted its holdings in The Hanover Insurance Group by 166.7% in the first quarter. Woodline Partners LP now owns 346,275 shares of the insurance provider’s stock valued at $60,235,000 after acquiring an additional 216,427 shares during the period. 86.61% of the stock is owned by institutional investors and hedge funds.

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.