The Hanover Insurance Group, Inc. (NYSE:THG) Stock Has Average Price Target of $231.43 According to Brokerages

Shares of The Hanover Insurance Group, Inc. (NYSE:THG) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $231.43.

Several research analysts have recently issued reports on THG shares. Keefe, Bruyette & Woods raised their target price on shares of The Hanover Insurance Group from $222.00 to $232.00 and gave the stock a “market perform” rating in a report on Friday, September 18th. Oppenheimer reiterated an “outperform” rating and set a $260.00 price target on shares of The Hanover Insurance Group in a report on Tuesday, October 13th. Citigroup reissued an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. Piper Sandler cut shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price target for the company. in a research report on Wednesday, July 15th. Finally, Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th.

Insider Transactions at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $231.50, for a total value of $231,500.00. Following the sale, the director directly owned 2,270 shares of the company’s stock, valued at $525,505. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dennis Kerrigan sold 2,104 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $222.41, for a total value of $467,950.64. Following the completion of the sale, the executive vice president directly owned 12,003 shares in the company, valued at $2,669,587.23. The trade was a 14.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,655 shares of company stock valued at $2,145,846. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in The Hanover Insurance Group in the second quarter worth about $756,471,000. Dimensional Fund Advisors LP boosted its position in The Hanover Insurance Group by 16.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock valued at $168,179,000 after acquiring an additional 136,998 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of The Hanover Insurance Group by 3.2% during the 1st quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock worth $143,416,000 after acquiring an additional 25,945 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of The Hanover Insurance Group by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 338,870 shares of the insurance provider’s stock worth $58,743,000 after acquiring an additional 5,219 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of The Hanover Insurance Group by 10.1% during the 1st quarter. Bank of America Corp DE now owns 251,130 shares of the insurance provider’s stock worth $43,533,000 after acquiring an additional 22,978 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Down 1.1%

THG opened at $230.39 on Thursday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $224.06 and its 200-day moving average price is $207.97. The company has a market cap of $8.02 billion, a P/E ratio of 10.87 and a beta of 0.23. The Hanover Insurance Group has a 12 month low of $166.54 and a 12 month high of $236.07.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, beating the consensus estimate of $3.84 by $1.47. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.35 earnings per share. On average, equities analysts expect that The Hanover Insurance Group will post 20.25 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 11th. The Hanover Insurance Group’s dividend payout ratio is 18.14%.

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 principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.

The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers’ compensation and other specialized coverages.

The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.