The Hanover Insurance Group (NYSE:THG) Given New $245.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target for The Hanover Insurance Group from $235 to $245 while maintaining a “sector perform” rating, implying 1.47% upside from the previous close.
• Analyst sentiment remains positive overall, with the stock carrying a “Moderate Buy” consensus rating and an average target price of $234.29.
• The Hanover reported quarterly EPS of $5.15, beating estimates of $4.62, although revenue of $1.74 billion fell short of the $1.81 billion consensus forecast.

The Hanover Insurance Group (NYSE:THG - Get Free Report) had its target price increased by research analysts at Royal Bank Of Canada from $235.00 to $245.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a "sector perform" rating on the insurance provider's stock. Royal Bank Of Canada's target price points to a potential upside of 1.47% from the company's previous close.

A number of other research analysts also recently issued reports on THG. Citigroup reissued a "market outperform" rating on shares of The Hanover Insurance Group in a research report on Thursday. Weiss Ratings raised shares of The Hanover Insurance Group from a "buy (a)" rating to a "buy (a+)" rating in a research note on Thursday, October 8th. Zacks Research upgraded shares of The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Citizens Jmp increased their price target on shares of The Hanover Insurance Group from $240.00 to $250.00 and gave the stock a "market outperform" rating in a research note on Thursday. Finally, Morgan Stanley lowered their price objective on shares of The Hanover Insurance Group from $240.00 to $230.00 and set an "equal weight" rating for the company in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $234.29.

The Hanover Insurance Group Price Performance

NYSE THG traded up $6.34 during trading on Friday, reaching $241.46. The company's stock had a trading volume of 81,989 shares, compared to its average volume of 316,042. The firm has a fifty day moving average of $226.06 and a 200 day moving average of $199.71. The Hanover Insurance Group has a one year low of $166.54 and a one year high of $241.20. The stock has a market capitalization of $8.41 billion, a PE ratio of 11.54 and a beta of 0.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.38 and a quick ratio of 0.38.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The insurance provider reported $5.15 EPS for the quarter, topping the consensus estimate of $4.62 by $0.53. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.81 billion. The Hanover Insurance Group had a return on equity of 21.39% and a net margin of 10.97%. During the same quarter in the previous year, the firm earned $5.09 earnings per share. Analysts expect that The Hanover Insurance Group will post 20.35 EPS for the current fiscal year.

Insider Transactions at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 1,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $231.50, for a total value of $231,500.00. Following the completion of the transaction, the director directly owned 2,270 shares in the company, valued at $525,505. This trade represents a 30.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dennis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $222.41, for a total transaction of $467,950.64. Following the transaction, the executive vice president directly owned 12,003 shares of the company's stock, valued at approximately $2,669,587.23. This trade represents a 14.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,655 shares of company stock worth $2,145,846 over the last ninety days. Insiders own 2.80% of the company's stock.

Institutional Trading of The Hanover Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Provenance Wealth Advisors LLC purchased a new stake in The Hanover Insurance Group in the 3rd quarter valued at about $37,000. GRIMES & Co WEALTH MANAGEMENT LLC boosted its holdings in The Hanover Insurance Group by 1,027.2% during the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 24,156 shares of the insurance provider's stock worth $5,172,000 after buying an additional 22,013 shares in the last quarter. Summit Wealth Group LLC Co. purchased a new position in The Hanover Insurance Group during the third quarter worth approximately $303,000. Vise Technologies Inc. grew its position in shares of The Hanover Insurance Group by 8.1% in the third quarter. Vise Technologies Inc. now owns 5,331 shares of the insurance provider's stock valued at $1,141,000 after purchasing an additional 399 shares during the period. Finally, State of Wyoming raised its holdings in shares of The Hanover Insurance Group by 66.5% during the third quarter. State of Wyoming now owns 631 shares of the insurance provider's stock valued at $135,000 after acquiring an additional 252 shares during 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 is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.

The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers' compensation and other specialized coverages.

The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.

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