Oppenheimer Raises The Hanover Insurance Group (NYSE:THG) Price Target to $165.00

The Hanover Insurance Group (NYSE:THG) had its price objective hoisted by Oppenheimer from $150.00 to $165.00 in a research report released on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the insurance provider’s stock.

THG has been the subject of several other research reports. Keefe, Bruyette & Woods increased their target price on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the stock a market perform rating in a report on Wednesday, April 10th. Piper Sandler reaffirmed an overweight rating and issued a $147.00 target price on shares of The Hanover Insurance Group in a research report on Monday, April 1st. JMP Securities reissued a market outperform rating and set a $150.00 price target on shares of The Hanover Insurance Group in a research report on Monday, April 15th. StockNews.com upgraded The Hanover Insurance Group from a hold rating to a buy rating in a research note on Thursday, January 11th. Finally, TheStreet upgraded The Hanover Insurance Group from a c+ rating to a b- rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $143.33.

The Hanover Insurance Group Trading Up 2.3 %

NYSE:THG opened at $133.64 on Friday. The company has a market cap of $4.80 billion, a P/E ratio of 29.96 and a beta of 0.67. The Hanover Insurance Group has a twelve month low of $103.82 and a twelve month high of $138.00. The business has a 50 day moving average price of $130.71 and a two-hundred day moving average price of $126.49. The company has a quick ratio of 0.39, a current ratio of 0.38 and a debt-to-equity ratio of 0.31.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, March 14th. The Hanover Insurance Group’s payout ratio is presently 76.23%.

Institutional Investors Weigh In On The Hanover Insurance Group

Several hedge funds have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. boosted its holdings in shares of The Hanover Insurance Group by 1.6% during the 3rd quarter. Pinnacle Associates Ltd. now owns 14,450 shares of the insurance provider’s stock worth $1,604,000 after buying an additional 224 shares during the period. Brown Advisory Inc. boosted its holdings in shares of The Hanover Insurance Group by 3.0% during the third quarter. Brown Advisory Inc. now owns 253,367 shares of the insurance provider’s stock worth $28,119,000 after acquiring an additional 7,273 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of The Hanover Insurance Group by 27.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,747 shares of the insurance provider’s stock valued at $860,000 after purchasing an additional 1,658 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of The Hanover Insurance Group by 60.1% during the third quarter. Mackenzie Financial Corp now owns 5,129 shares of the insurance provider’s stock worth $566,000 after purchasing an additional 1,925 shares during the period. Finally, Park Avenue Securities LLC acquired a new stake in The Hanover Insurance Group during the 3rd quarter worth approximately $455,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

About The 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 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.