The Hanover Insurance Group (NYSE:THG) Stock Price Expected to Rise, Citizens Jmp Analyst Says

The Hanover Insurance Group (NYSE:THG) had its target price raised by Citizens Jmp from $205.00 to $225.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the insurance provider’s stock. Citizens Jmp’s price target suggests a potential upside of 4.54% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of The Hanover Insurance Group from $220.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday. Royal Bank Of Canada upped their price target on The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Piper Sandler increased their price objective on The Hanover Insurance Group from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a report on Friday. Finally, BMO Capital Markets lowered The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $194.00 to $203.00 in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.43.

The Hanover Insurance Group Price Performance

THG opened at $215.22 on Friday. The firm has a market cap of $7.53 billion, a PE ratio of 10.87 and a beta of 0.28. The stock has a 50-day moving average price of $198.04 and a 200-day moving average price of $183.66. The Hanover Insurance Group has a 1 year low of $162.66 and a 1 year high of $225.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.14 by $1.11. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The Hanover Insurance Group’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $3.87 EPS. Sell-side analysts predict that The Hanover Insurance Group will post 18.38 earnings per share for the current fiscal year.

The Hanover Insurance Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 13th that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the insurance provider to purchase up to 10.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at The Hanover Insurance Group

In other news, CEO John C. Roche sold 8,358 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.74, for a total value of $1,619,278.92. Following the transaction, the chief executive officer directly owned 141,011 shares in the company, valued at $27,319,471.14. This trade represents a 5.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Dennis Francis Kerrigan sold 6,262 shares of The Hanover Insurance Group stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $192.99, for a total value of $1,208,503.38. Following the completion of the sale, the executive vice president directly owned 11,988 shares of the company’s stock, valued at $2,313,564.12. The trade was a 34.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 29,508 shares of company stock worth $5,704,651. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of The Hanover Insurance Group in the 4th quarter worth approximately $83,817,000. Alliancebernstein L.P. grew its position in The Hanover Insurance Group by 36.1% during the second quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock valued at $217,505,000 after buying an additional 339,896 shares during the period. AQR Capital Management LLC grew its position in The Hanover Insurance Group by 37.8% during the third quarter. AQR Capital Management LLC now owns 763,431 shares of the insurance provider’s stock valued at $137,967,000 after buying an additional 209,616 shares during the period. Invesco Ltd. increased its holdings in The Hanover Insurance Group by 44.1% during the fourth quarter. Invesco Ltd. now owns 646,910 shares of the insurance provider’s stock valued at $118,236,000 after buying an additional 197,930 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in The Hanover Insurance Group by 206.0% during the third quarter. Balyasny Asset Management L.P. now owns 292,121 shares of the insurance provider’s stock valued at $53,058,000 after buying an additional 196,655 shares during the last quarter. 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 (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.