The Hanover Insurance Group (NYSE:THG) Price Target Raised to $232.00

Key Points

• Keefe, Bruyette & Woods raised The Hanover Insurance Group’s price target to $232 from $222 while maintaining a “market perform” rating, implying just 1.06% upside from the prior close. Analysts collectively assign the stock a “Moderate Buy” rating with an average target of $227.14.
• The company reported strong quarterly results, with EPS of $5.31 versus the $3.84 consensus estimate and revenue of $1.73 billion, up 4.6% year over year.
• THG shares opened at $229.57, near their 52-week high of $236.07. Institutional investors own 86.61% of the stock, while insiders sold 9,655 shares worth approximately $2.15 million during the last quarter.

The Hanover Insurance Group (NYSE:THG - Get Free Report) had its price target lifted by investment analysts at Keefe, Bruyette & Woods from $222.00 to $232.00 in a research report issued on Friday, Benzinga reports. The firm presently has a "market perform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price target points to a potential upside of 1.06% from the company's previous close.

Several other equities research analysts have also issued reports on the stock. Royal Bank Of Canada increased their target price on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Citigroup restated an "outperform" rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. Oppenheimer increased their price target on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, May 21st. Citizens Jmp raised their price objective on The Hanover Insurance Group from $225.00 to $240.00 and gave the company a "market outperform" rating in a report on Wednesday, July 29th. Finally, Morgan Stanley boosted their price objective on The Hanover Insurance Group from $235.00 to $240.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $227.14.

The Hanover Insurance Group Price Performance

NYSE:THG opened at $229.57 on Friday. 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 company has a 50 day moving average price of $223.88 and a 200-day moving average price of $200.61. The Hanover Insurance Group has a 1-year low of $166.54 and a 1-year high of $236.07. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 10.96 and a beta of 0.26.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm posted $4.35 earnings per share. The firm's quarterly revenue was up 4.6% compared to the same quarter last year. Equities research analysts forecast that The Hanover Insurance Group will post 20.17 EPS for the current year.

Insider Activity at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 1,000 shares of the stock in a transaction on Monday, August 3rd. The stock was 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 of the company's stock, valued at approximately $525,505. This represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dennis Kerrigan sold 2,104 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $222.41, for a total value of $467,950.64. Following the completion of the transaction, the executive vice president owned 12,003 shares in the company, valued at $2,669,587.23. The trade was a 14.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,655 shares of company stock valued at $2,145,846 over the last quarter. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Basecamp Wealth Advisors LLC boosted its stake in The Hanover Insurance Group by 19.1% in the first quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider's stock valued at $59,000 after acquiring an additional 55 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of The Hanover Insurance Group by 5.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider's stock worth $195,000 after buying an additional 59 shares during the period. Versant Capital Management Inc raised its stake in The Hanover Insurance Group by 8.4% during the 2nd quarter. Versant Capital Management Inc now owns 861 shares of the insurance provider's stock valued at $184,000 after acquiring an additional 67 shares in the last quarter. World Investment Advisors increased its holdings in shares of The Hanover Insurance Group by 3.1% during the first quarter. World Investment Advisors now owns 2,359 shares of the insurance provider's stock valued at $409,000 after purchasing an additional 71 shares during the period. Finally, Blue Trust Inc. grew its position in The Hanover Insurance Group by 5.8% in the 1st quarter. Blue Trust Inc. now owns 1,470 shares of the insurance provider's stock valued at $255,000 after buying an additional 80 shares in the last quarter. 86.61% of the stock is owned by hedge funds and other 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 offerings are designed for individuals, families, businesses and specialty-market customers, with a focus on helping policyholders manage risks involving property, automobiles, liability and business operations.

The company's personal lines business includes automobile, homeowners, renters, condominium, umbrella and related insurance products.

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