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

The Hanover Insurance Group (NYSE:THG) had its price objective increased by investment analysts at Keefe, Bruyette & Woods from $164.00 to $170.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 7.91% from the stock’s previous close.

A number of other research firms have also recently weighed in on THG. Oppenheimer upped 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 note on Friday, November 1st. 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 note on Thursday, October 31st. Piper Sandler upped their price target on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Bank of America upped their price target on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $173.40.

The Hanover Insurance Group Stock Performance

THG stock traded up $0.51 on Thursday, hitting $157.54. The company’s stock had a trading volume of 16,834 shares, compared to its average volume of 173,887. The firm has a 50 day moving average of $148.37 and a two-hundred day moving average of $136.99. The Hanover Insurance Group has a 1 year low of $112.22 and a 1 year high of $159.27. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 15.65 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 (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.40. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The Hanover Insurance Group’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. Equities analysts predict that The Hanover Insurance Group will post 11.17 EPS for the current fiscal year.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 300 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total value of $45,000.00. Following the transaction, the executive vice president now directly owns 89,733 shares in the company, valued at approximately $13,459,950. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Jeffrey M. Farber sold 300 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $45,000.00. Following the transaction, the executive vice president now directly owns 89,733 shares in the company, valued at $13,459,950. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey M. Farber sold 12,000 shares of the 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 owns 66,091 shares in the company, valued at approximately $10,249,392.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,303 shares of company stock valued at $4,372,203. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of THG. Boston Partners grew its position in The Hanover Insurance Group by 111.8% in the first quarter. Boston Partners now owns 12,794 shares of the insurance provider’s stock valued at $1,739,000 after acquiring an additional 6,753 shares in the last quarter. Interval Partners LP acquired a new stake in The Hanover Insurance Group in the first quarter valued at approximately $2,349,000. BNP Paribas Financial Markets grew its position in The Hanover Insurance Group by 65.9% in the first quarter. BNP Paribas Financial Markets now owns 11,926 shares of the insurance provider’s stock valued at $1,624,000 after acquiring an additional 4,738 shares in the last quarter. Tidal Investments LLC acquired a new stake in The Hanover Insurance Group in the first quarter valued at approximately $867,000. Finally, Foundations Investment Advisors LLC acquired a new stake in The Hanover Insurance Group in the second quarter valued at approximately $681,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

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.