The Hanover Insurance Group (NYSE:THG) Given New $177.00 Price Target at Oppenheimer

by · The Markets Daily

The Hanover Insurance Group (NYSE:THG – Free Report) had its price target raised by Oppenheimer from $165.00 to $177.00 in a research note published on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the insurance provider’s stock.

Several other brokerages also recently weighed in on THG. Keefe, Bruyette & Woods increased their target price on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Piper Sandler raised their price objective on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Bank of America raised their price objective on shares of 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. Finally, JMP Securities raised 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 report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $168.20.

View Our Latest Research Report on THG

The Hanover Insurance Group Stock Performance

Shares of THG traded down $0.43 during mid-day trading on Friday, hitting $147.90. 304,188 shares of the company’s stock were exchanged, compared to its average volume of 174,834. The Hanover Insurance Group has a fifty-two week low of $112.22 and a fifty-two week high of $155.84. The firm has a market capitalization of $5.32 billion, a P/E ratio of 14.67 and a beta of 0.69. The business’s 50 day moving average is $147.58 and its two-hundred day moving average is $136.46. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.31.

The Hanover Insurance Group (NYSE:THG – Get Free Report) last announced its earnings results 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 Hanover Insurance Group had a net margin of 5.92% and a return on equity of 16.09%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities analysts expect that The Hanover Insurance Group will post 10.92 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.30%. The Hanover Insurance Group’s payout ratio is 33.73%.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Atria Investments Inc increased its stake in shares of The Hanover Insurance Group by 7.8% during 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 in the last quarter. Markel Group Inc. grew its stake in The Hanover Insurance Group by 5.8% in the 3rd quarter. Markel Group Inc. now owns 254,000 shares of the insurance provider’s stock worth $37,620,000 after acquiring an additional 14,000 shares during the period. Capital Performance Advisors LLP purchased a new stake in The Hanover Insurance Group in the 3rd quarter worth approximately $60,000. Lowe Brockenbrough & Co. Inc. grew its stake in The Hanover Insurance Group by 0.6% in the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 14,693 shares of the insurance provider’s stock worth $2,176,000 after acquiring an additional 91 shares during the period. Finally, Congress Asset Management Co. grew its stake in 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 during the period. 86.61% of the stock is owned by hedge funds and other institutional investors.

About The Hanover Insurance Group

(Get Free Report)

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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