Piper Sandler Forecasts Strong Price Appreciation for The Hanover Insurance Group (NYSE:THG) Stock

The Hanover Insurance Group (NYSE:THG) had its target price increased by research analysts at Piper Sandler from $162.00 to $175.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price target suggests a potential upside of 18.32% from the stock’s current price.

Several other research analysts have also commented on THG. Oppenheimer raised their price target on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a report on Friday. Keefe, Bruyette & Woods raised 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 research note on Tuesday, August 13th. JMP Securities upped their price target on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research report on Thursday. Finally, Bank of America raised their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $168.20.

The Hanover Insurance Group Stock Down 0.3 %

Shares of NYSE THG opened at $147.90 on Friday. 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 stock has a market capitalization of $5.32 billion, a PE ratio of 14.67 and a beta of 0.69. The firm has a fifty day moving average of $147.58 and a 200-day moving average of $136.46. The Hanover Insurance Group has a 52-week low of $112.22 and a 52-week high of $155.84.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.40. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. The Hanover Insurance Group had a return on equity of 16.09% and a net margin of 5.92%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. On average, analysts anticipate that The Hanover Insurance Group will post 10.92 EPS for the current year.

Insider Buying and Selling at The Hanover Insurance Group

In other news, SVP Warren E. Barnes sold 500 shares of The Hanover Insurance Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $138.25, for a total transaction of $69,125.00. Following the sale, the senior vice president now directly owns 3,013 shares of the company’s stock, valued at approximately $416,547.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Warren E. Barnes sold 500 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $138.25, for a total value of $69,125.00. Following the completion of the transaction, the senior vice president now owns 3,013 shares of the company’s stock, valued at approximately $416,547.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Richard W. Lavey sold 8,468 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $144.01, for a total value of $1,219,476.68. Following the sale, the executive vice president now owns 36,281 shares in the company, valued at $5,224,826.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,303 shares of company stock valued at $4,372,203 in the last ninety days. Insiders own 2.40% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

Several institutional investors have recently added to or reduced their stakes in THG. Atria Investments Inc increased its position in shares of The Hanover Insurance Group by 7.8% in the 3rd quarter. Atria Investments Inc now owns 2,734 shares of the insurance provider’s stock worth $405,000 after purchasing an additional 197 shares during the last quarter. Markel Group Inc. increased its holdings in The Hanover Insurance Group by 5.8% in the third quarter. Markel Group Inc. now owns 254,000 shares of the insurance provider’s stock valued at $37,620,000 after buying an additional 14,000 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in The Hanover Insurance Group during the third quarter valued at approximately $60,000. Lowe Brockenbrough & Co. Inc. lifted its holdings in The Hanover Insurance Group by 0.6% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 14,693 shares of the insurance provider’s stock worth $2,176,000 after buying an additional 91 shares during the last quarter. Finally, Congress Asset Management Co. grew its position in shares of The Hanover Insurance Group by 14.1% in the 3rd quarter. Congress Asset Management Co. now owns 32,341 shares of the insurance provider’s stock worth $4,790,000 after acquiring an additional 3,988 shares in the last quarter. 86.61% of the stock is 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.