JMP Securities Reiterates Market Outperform Rating for The Hanover Insurance Group (NYSE:THG)

The Hanover Insurance Group (NYSE:THG)‘s stock had its “market outperform” rating reiterated by research analysts at JMP Securities in a note issued to investors on Monday, Benzinga reports. They presently have a $150.00 price target on the insurance provider’s stock. JMP Securities’ target price suggests a potential upside of 16.14% from the company’s previous close.

Other analysts have also recently issued reports about the company. Oppenheimer reaffirmed an “outperform” rating and set a $150.00 price objective on shares of The Hanover Insurance Group in a report on Friday, April 5th. TheStreet raised The Hanover Insurance Group from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Keefe, Bruyette & Woods increased their price target on The Hanover Insurance Group from $137.00 to $142.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler restated an “overweight” rating and set a $147.00 price objective on shares of The Hanover Insurance Group in a research note on Monday, April 1st. Finally, StockNews.com upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Two 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.83.

The Hanover Insurance Group Stock Performance

NYSE:THG opened at $129.16 on Monday. The business has a 50 day moving average price of $131.55 and a 200-day moving average price of $124.89. The Hanover Insurance Group has a fifty-two week low of $103.82 and a fifty-two week high of $138.00. The firm has a market cap of $4.64 billion, a PE ratio of 137.41 and a beta of 0.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.39 and a current ratio of 0.39.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.62. The Hanover Insurance Group had a return on equity of 2.44% and a net margin of 0.59%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.56 billion. Equities research analysts predict that The Hanover Insurance Group will post 10.03 earnings per share for the current year.

Insider Buying and Selling

In other The Hanover Insurance Group news, SVP Warren E. Barnes sold 500 shares of The Hanover Insurance Group stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $131.14, for a total value of $65,570.00. Following the transaction, the senior vice president now owns 3,612 shares in the company, valued at $473,677.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of THG. Vanguard Group Inc. increased its position in shares of The Hanover Insurance Group by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,690,436 shares of the insurance provider’s stock worth $472,893,000 after purchasing an additional 10,204 shares in the last quarter. BlackRock Inc. increased its stake in The Hanover Insurance Group by 1.6% in the 1st quarter. BlackRock Inc. now owns 3,235,297 shares of the insurance provider’s stock valued at $483,743,000 after buying an additional 50,073 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of The Hanover Insurance Group by 27.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,214,520 shares of the insurance provider’s stock valued at $147,467,000 after acquiring an additional 264,483 shares during the period. State Street Corp lifted its holdings in The Hanover Insurance Group by 0.7% during the 2nd quarter. State Street Corp now owns 1,145,013 shares of the insurance provider’s stock valued at $129,421,000 after purchasing an additional 8,158 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in The Hanover Insurance Group by 7.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,033,560 shares of the insurance provider’s stock valued at $125,495,000 after purchasing an additional 75,737 shares during the period. Institutional investors and hedge funds own 86.61% of the company’s stock.

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.