The Hanover Insurance Group (NYSE:THG) Price Target Raised to $170.00 at Keefe, Bruyette & Woods

The Hanover Insurance Group (NYSE:THG) had its target price raised by Keefe, Bruyette & Woods from $164.00 to $170.00 in a report released on Thursday,Benzinga reports. They currently have a market perform rating on the insurance provider’s stock.

Other research analysts also recently issued reports about the stock. Bank of America upped 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 research note on Thursday, October 10th. Oppenheimer raised their price target on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JMP Securities increased their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Finally, Piper Sandler increased their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $173.40.

The Hanover Insurance Group Trading Up 2.1 %

Shares of NYSE THG traded up $3.29 during midday trading on Thursday, reaching $159.64. 117,049 shares of the stock were exchanged, compared to its average volume of 174,261. The Hanover Insurance Group has a 52-week low of $112.22 and a 52-week high of $160.23. The stock has a 50 day moving average price of $148.61 and a 200-day moving average price of $137.13. The company has a market capitalization of $5.75 billion, a P/E ratio of 15.51 and a beta of 0.70. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27.

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 for the quarter, topping the consensus estimate of $2.65 by $0.40. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The company’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. Equities research analysts expect that The Hanover Insurance Group will post 11.22 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.13%. The Hanover Insurance Group’s dividend payout ratio (DPR) is 33.73%.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 12,000 shares of the firm’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 transaction, the executive vice president now directly owns 66,091 shares in the company, valued at $10,249,392.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $155.08, for a total value of $1,860,960.00. Following the sale, the executive vice president now owns 66,091 shares of the company’s stock, valued at $10,249,392.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jeffrey M. Farber sold 300 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $45,000.00. Following the completion of the sale, the executive vice president now directly owns 89,733 shares of the company’s stock, valued at approximately $13,459,950. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,303 shares of company stock valued at $4,372,203. Insiders own 2.40% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

Several institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new stake in shares of The Hanover Insurance Group in the 2nd quarter valued at $25,000. V Square Quantitative Management LLC bought a new stake in shares of The Hanover Insurance Group during the third quarter worth $26,000. 1620 Investment Advisors Inc. bought a new stake in shares of The Hanover Insurance Group during the second quarter worth approximately $42,000. GHP Investment Advisors Inc. lifted its stake in shares of The Hanover Insurance Group by 64.9% in the 2nd quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 168 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in The Hanover Insurance Group during the 3rd quarter worth $60,000. 86.61% of the stock is currently owned by institutional investors and hedge funds.

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.