The Hanover Insurance Group (NYSE:THG) Given "Buy (B)" Rating at Weiss Ratings

Key Points

• The Hanover Insurance Group received a "Buy (B)" rating from Weiss Ratings, indicating positive investor sentiment towards the stock.
• Several analysts have set price targets for the company, with JMP Securities at $205.00 and Morgan Stanley increasing their target from $185.00 to $190.00.
• Despite the stock trading down slightly to $183.97, it has shown a strong performance with an EPS of $4.35, surpassing expectations, and a revenue increase of 3.1% year-over-year.

The Hanover Insurance Group (NYSE:THG - Get Free Report)'s stock had its "buy (b)" rating restated by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently commented on THG. JMP Securities set a $205.00 price objective on shares of The Hanover Insurance Group in a research report on Thursday, July 31st. Keefe, Bruyette & Woods raised shares of The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 price objective for the company in a research report on Wednesday, July 9th. Citigroup restated an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. Finally, Morgan Stanley raised their target price on shares of The Hanover Insurance Group from $185.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $185.75.

The Hanover Insurance Group Stock Performance

Shares of THG traded down $0.53 during midday trading on Wednesday, reaching $183.97. The stock had a trading volume of 133,333 shares, compared to its average volume of 244,285. The firm has a 50 day simple moving average of $175.30 and a 200-day simple moving average of $169.61. The Hanover Insurance Group has a one year low of $145.17 and a one year high of $186.46. The firm has a market cap of $6.58 billion, a PE ratio of 12.11 and a beta of 0.44. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.11.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $4.35 EPS for the quarter, beating analysts' consensus estimates of $3.07 by $1.28. The Hanover Insurance Group had a net margin of 8.67% and a return on equity of 20.24%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm posted $1.88 EPS. The company's quarterly revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts anticipate that The Hanover Insurance Group will post 14.37 EPS for the current year.

Institutional Trading of The Hanover Insurance Group

A number of institutional investors have recently bought and sold shares of the business. Truist Financial Corp boosted its holdings in The Hanover Insurance Group by 2.8% in the 2nd quarter. Truist Financial Corp now owns 2,255 shares of the insurance provider's stock valued at $383,000 after purchasing an additional 62 shares during the period. HM Payson & Co. boosted its holdings in The Hanover Insurance Group by 6.7% in the 1st quarter. HM Payson & Co. now owns 1,063 shares of the insurance provider's stock valued at $185,000 after purchasing an additional 67 shares during the period. Evergreen Capital Management LLC boosted its holdings in The Hanover Insurance Group by 3.8% in the 1st quarter. Evergreen Capital Management LLC now owns 1,811 shares of the insurance provider's stock valued at $315,000 after purchasing an additional 67 shares during the period. UMB Bank n.a. boosted its holdings in The Hanover Insurance Group by 20.3% in the 2nd quarter. UMB Bank n.a. now owns 468 shares of the insurance provider's stock valued at $79,000 after purchasing an additional 79 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in The Hanover Insurance Group by 56.6% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 224 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 81 shares during the period. Institutional investors own 86.61% of the company's stock.

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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