Brokerages Set Hanover Insurance Group Inc (NYSE:THG) Price Target at $131.93

Shares of Hanover Insurance Group Inc (NYSE:THG) have been given a consensus rating of “Buy” by the six brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $131.93.

A number of analysts have issued reports on the company. Compass Point assumed coverage on Hanover Insurance Group in a research report on Friday, March 1st. They issued a “buy” rating and a $118.71 target price on the stock. Zacks Investment Research upgraded shares of Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a research note on Tuesday, May 7th.

In other Hanover Insurance Group news, insider Bryan J. Salvatore sold 867 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $116.20, for a total transaction of $100,745.40. Following the transaction, the insider now owns 8,312 shares of the company’s stock, valued at $965,854.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider J Kendall Huber sold 23,261 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $121.51, for a total transaction of $2,826,444.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,420 shares of company stock worth $4,177,026. 1.65% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in THG. Norges Bank bought a new stake in shares of Hanover Insurance Group during the 4th quarter worth about $67,981,000. First Trust Advisors LP boosted its holdings in shares of Hanover Insurance Group by 950.7% in the 1st quarter. First Trust Advisors LP now owns 279,290 shares of the insurance provider’s stock valued at $31,887,000 after buying an additional 252,709 shares during the period. Chartwell Investment Partners LLC boosted its stake in Hanover Insurance Group by 257.7% during the 1st quarter. Chartwell Investment Partners LLC now owns 131,971 shares of the insurance provider’s stock valued at $15,067,000 after purchasing an additional 95,073 shares during the period. Hancock Whitney Corp boosted its stake in Hanover Insurance Group by 109.1% during the 1st quarter. Hancock Whitney Corp now owns 168,282 shares of the insurance provider’s stock valued at $19,213,000 after purchasing an additional 87,819 shares during the period. Finally, Two Sigma Investments LP boosted its stake in Hanover Insurance Group by 1,037.5% during the 4th quarter. Two Sigma Investments LP now owns 89,859 shares of the insurance provider’s stock valued at $10,493,000 after purchasing an additional 81,959 shares during the period. 85.15% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:THG opened at $124.00 on Friday. Hanover Insurance Group has a 52 week low of $104.59 and a 52 week high of $131.44. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market cap of $5.07 billion, a PE ratio of 18.26 and a beta of 0.65.

Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $1.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.17. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Hanover Insurance Group had a return on equity of 11.02% and a net margin of 9.19%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 EPS. As a group, analysts expect that Hanover Insurance Group will post 8.1 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 1.94%. Hanover Insurance Group’s dividend payout ratio is presently 35.35%.

About 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 in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.

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