The Hanover Insurance Group (NYSE:THG) Price Target Raised to $170.00

The Hanover Insurance Group (NYSE:THG) had its price target increased by investment analysts at Morgan Stanley from $163.00 to $170.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 0.63% from the stock’s previous close.

Several other brokerages have also issued reports on THG. JMP Securities increased their target price on shares of The Hanover Insurance Group from $175.00 to $185.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 1st. Piper Sandler raised their price target on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. StockNews.com raised shares of The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on The Hanover Insurance Group from $171.00 to $173.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.50.

The Hanover Insurance Group Price Performance

Shares of THG traded up $0.56 during mid-day trading on Monday, reaching $168.93. The company had a trading volume of 7,423 shares, compared to its average volume of 207,470. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 14.47 and a beta of 0.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.40 and a current ratio of 0.40. The company’s 50 day simple moving average is $165.31 and its 200 day simple moving average is $161.00. The Hanover Insurance Group has a 1-year low of $119.66 and a 1-year high of $176.16.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.29. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.55 billion. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. The Hanover Insurance Group’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.08 EPS. Analysts expect that The Hanover Insurance Group will post 14.37 EPS for the current year.

Insider Activity at The Hanover Insurance Group

In other news, EVP Bryan J. Salvatore sold 10,526 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $166.60, for a total value of $1,753,631.60. Following the transaction, the executive vice president now owns 25,864 shares in the company, valued at approximately $4,308,942.40. This trade represents a 28.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John C. Roche sold 301 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $175.00, for a total transaction of $52,675.00. Following the completion of the transaction, the chief executive officer now owns 124,414 shares in the company, valued at $21,772,450. The trade was a 0.24% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,027 shares of company stock valued at $1,841,309. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Large investors have recently made changes to their positions in the business. Clearstead Trust LLC purchased a new position in shares of The Hanover Insurance Group in the 1st quarter valued at approximately $27,000. EverSource Wealth Advisors LLC lifted its stake in shares of The Hanover Insurance Group by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider’s stock worth $33,000 after buying an additional 102 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in 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 acquiring an additional 90 shares during the last quarter. True Wealth Design LLC lifted its position in The Hanover Insurance Group by 81.7% in the 4th quarter. True Wealth Design LLC now owns 307 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 138 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of The Hanover Insurance Group by 331.4% in the 1st quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 232 shares in the last quarter. 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.