The Hanover Insurance Group (NYSE:THG – Get Free Report) had its target price upped by equities research analysts at Morgan Stanley from $165.00 to $170.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target points to a potential upside of 6.30% from the stock’s current price.
Other research analysts have also recently issued research reports about the company. JMP Securities increased their target price on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Bank of America increased 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. Barclays upgraded The Hanover Insurance Group to a “hold” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods increased their price target on shares of The Hanover Insurance Group from $170.00 to $176.00 and gave the company a “market perform” rating in a research report on Friday, January 10th. Finally, Janney Montgomery Scott downgraded shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target on the stock. in a research note on Thursday, November 21st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $174.88.
Read Our Latest Research Report on The Hanover Insurance Group
The Hanover Insurance Group Stock Performance
The Hanover Insurance Group (NYSE:THG – Get Free Report) last announced its earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. As a group, equities analysts forecast that The Hanover Insurance Group will post 11.46 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, EVP Jeffrey M. Farber sold 5,886 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $160.05, for a total value of $942,054.30. Following the sale, the executive vice president now directly owns 60,205 shares of the company’s stock, valued at $9,635,810.25. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 12,100 shares of company stock valued at $1,951,223 over the last three months. 2.50% of the stock is owned by company insiders.
Institutional Investors Weigh In On The Hanover Insurance Group
A number of large investors have recently made changes to their positions in THG. Captrust Financial Advisors lifted its stake in The Hanover Insurance Group by 4.7% in the third quarter. Captrust Financial Advisors now owns 1,822 shares of the insurance provider’s stock worth $270,000 after acquiring an additional 81 shares during the period. Lecap Asset Management Ltd. raised its holdings in The Hanover Insurance Group by 2.0% in the 3rd quarter. Lecap Asset Management Ltd. now owns 4,202 shares of the insurance provider’s stock worth $622,000 after purchasing an additional 84 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of The Hanover Insurance Group by 49.5% in the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 90 shares during the period. Truist Financial Corp boosted its stake in shares of The Hanover Insurance Group by 4.7% during the 4th quarter. Truist Financial Corp now owns 2,025 shares of the insurance provider’s stock valued at $313,000 after purchasing an additional 90 shares in the last quarter. Finally, Lowe Brockenbrough & Co. Inc. increased its position in shares of The Hanover Insurance Group by 0.6% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 14,693 shares of the insurance provider’s stock valued at $2,176,000 after buying an additional 91 shares during the period. 86.61% of the stock is currently owned by institutional investors.
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.
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