The Hanover Insurance Group (NYSE:THG) Price Target Raised to $232.00

The Hanover Insurance Group (NYSE:THG) had its target price raised by Keefe, Bruyette & Woods from $222.00 to $232.00 in a report released on Friday morning,Benzinga reports. They currently have a market perform rating on the insurance provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, July 30th. Oppenheimer boosted their price objective on The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Piper Sandler lowered The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective for the company. in a research note on Wednesday, July 15th. Citizens Jmp raised their target price on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 29th. Finally, Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $227.14.

The Hanover Insurance Group Price Performance

Shares of The Hanover Insurance Group stock opened at $227.12 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The Hanover Insurance Group has a 52-week low of $166.54 and a 52-week high of $236.07. The company has a fifty day moving average of $224.14 and a 200-day moving average of $200.93. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 10.84 and a beta of 0.26.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company earned $4.35 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts expect that The Hanover Insurance Group will post 20.17 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, September 11th. The Hanover Insurance Group’s payout ratio is currently 18.14%.

Insider Buying and Selling

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total value of $231,500.00. Following the completion of the sale, the director owned 2,270 shares in the company, valued at approximately $525,505. This trade represents a 30.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Dennis Kerrigan sold 6,551 shares of The Hanover Insurance Group stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $220.79, for a total value of $1,446,395.29. Following the completion of the sale, the executive vice president owned 12,003 shares in the company, valued at approximately $2,650,142.37. This represents a 35.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,655 shares of company stock valued at $2,145,846 in the last ninety days. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

A number of large investors have recently modified their holdings of THG. Basecamp Wealth Advisors LLC raised its stake in The Hanover Insurance Group by 19.1% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider’s stock valued at $59,000 after buying an additional 55 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of The Hanover Insurance Group by 5.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider’s stock worth $195,000 after buying an additional 59 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of The Hanover Insurance Group by 8.4% in the 2nd quarter. Versant Capital Management Inc now owns 861 shares of the insurance provider’s stock worth $184,000 after buying an additional 67 shares during the last quarter. World Investment Advisors boosted its stake in shares of The Hanover Insurance Group by 3.1% in the 1st quarter. World Investment Advisors now owns 2,359 shares of the insurance provider’s stock worth $409,000 after buying an additional 71 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of The Hanover Insurance Group by 5.8% in the first quarter. Blue Trust Inc. now owns 1,470 shares of the insurance provider’s stock worth $255,000 after acquiring an additional 80 shares during the period. Institutional investors own 86.61% of the company’s stock.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its offerings are designed for individuals, families, businesses and specialty-market customers, with a focus on helping policyholders manage risks involving property, automobiles, liability and business operations.

The company’s personal lines business includes automobile, homeowners, renters, condominium, umbrella and related insurance products.