The Hanover Insurance Group (NYSE:THG) Price Target Raised to $177.00 at Oppenheimer

The Hanover Insurance Group (NYSE:THG) had its price target increased by Oppenheimer from $165.00 to $177.00 in a research report released on Friday morning, Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Several other analysts have also recently issued reports on THG. JMP Securities boosted their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research note on Thursday. Piper Sandler lifted their target price on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Bank of America lifted their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, The Hanover Insurance Group has an average rating of “Moderate Buy” and an average price target of $168.20.

The Hanover Insurance Group Trading Down 0.3 %

Shares of NYSE THG traded down $0.43 during trading on Friday, hitting $147.90. 304,188 shares of the company traded hands, compared to its average volume of 174,834. The Hanover Insurance Group has a 1 year low of $112.22 and a 1 year high of $155.84. The company has a 50-day moving average price of $147.58 and a 200-day moving average price of $136.46. The firm has a market capitalization of $5.32 billion, a P/E ratio of 14.67 and a beta of 0.69. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.40. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 16.09%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the company earned $0.19 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities analysts predict that The Hanover Insurance Group will post 10.92 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 27th. Shareholders of record on Friday, September 13th were issued a $0.85 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a yield of 2.30%. The Hanover Insurance Group’s dividend payout ratio is currently 33.73%.

Insiders Place Their Bets

In other The Hanover Insurance Group news, Director Kathy S. Lane sold 1,884 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Kathy S. Lane sold 1,884 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey M. Farber sold 12,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the completion of the sale, the executive vice president now directly owns 66,091 shares of the company’s stock, valued at $10,249,392.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,303 shares of company stock worth $4,372,203 in the last quarter. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in shares of The Hanover Insurance Group in the 3rd quarter worth about $26,000. Point72 Hong Kong Ltd bought a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at about $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at about $42,000. Capital Performance Advisors LLP bought a new stake in shares of The Hanover Insurance Group during the 3rd quarter valued at about $60,000. Finally, UMB Bank n.a. grew its position in shares of The Hanover Insurance Group by 35.4% during the 3rd quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock valued at $62,000 after buying an additional 109 shares during the last quarter. Institutional investors 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.