The Hanover Insurance Group (NYSE:THG) Given New $176.00 Price Target at Keefe, Bruyette & Woods

The Hanover Insurance Group (NYSE:THG) had its target price hoisted by analysts at Keefe, Bruyette & Woods from $170.00 to $176.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 19.90% from the company’s previous close.

Several other brokerages have also issued reports on THG. Piper Sandler raised their price target on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Bank of America lifted their price objective 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. JMP Securities lifted 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 note on Thursday, October 31st. Janney Montgomery Scott downgraded shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target for the company. in a report on Thursday, November 21st. Finally, BMO Capital Markets raised their price target on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and an average target price of $174.88.

The Hanover Insurance Group Price Performance

Shares of NYSE THG traded down $5.64 during midday trading on Friday, reaching $146.79. 36,929 shares of the company were exchanged, compared to its average volume of 157,426. The stock’s 50-day moving average price is $157.61 and its 200-day moving average price is $145.79. The stock has a market cap of $5.29 billion, a P/E ratio of 14.56 and a beta of 0.72. The Hanover Insurance Group has a one year low of $119.66 and a one year high of $166.13. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.40. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The Hanover Insurance Group’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that The Hanover Insurance Group will post 11.41 earnings per share for the current fiscal year.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 12,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $155.08, for a total value of $1,860,960.00. Following the sale, the executive vice president now owns 66,091 shares in the company, valued at approximately $10,249,392.28. This represents a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 28,900 shares of company stock worth $4,534,151. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in THG. Commonwealth Equity Services LLC lifted its position in The Hanover Insurance Group by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 9,261 shares of the insurance provider’s stock valued at $1,162,000 after purchasing an additional 473 shares during the period. Arizona State Retirement System lifted its position in The Hanover Insurance Group by 2.0% during the second quarter. Arizona State Retirement System now owns 10,028 shares of the insurance provider’s stock valued at $1,258,000 after purchasing an additional 200 shares during the period. Quest Partners LLC lifted its position in The Hanover Insurance Group by 68,125.0% during the second quarter. Quest Partners LLC now owns 2,729 shares of the insurance provider’s stock valued at $342,000 after purchasing an additional 2,725 shares during the period. Choreo LLC bought a new position in The Hanover Insurance Group during the second quarter valued at approximately $294,000. Finally, AGF Management Ltd. lifted its position in The Hanover Insurance Group by 8.1% during the second quarter. AGF Management Ltd. now owns 17,985 shares of the insurance provider’s stock valued at $2,256,000 after purchasing an additional 1,348 shares during the period. Institutional investors own 86.61% of the company’s stock.

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.