The Hanover Insurance Group (NYSE:THG) Price Target Raised to $190.00 at Morgan Stanley

Key Points

• Morgan Stanley has raised the price target for The Hanover Insurance Group's stock from $185.00 to $190.00, indicating a potential upside of 2.33%.
• The Hanover Insurance Group has received a consensus rating of "Moderate Buy" from analysts, with 7 analysts giving a Buy rating and 4 rating it Hold.
• The company's recent quarterly earnings exceeded expectations with $4.35 earnings per share, outperforming the consensus estimate of $3.07.

The Hanover Insurance Group (NYSE:THG - Get Free Report) had its price target lifted by stock analysts at Morgan Stanley from $185.00 to $190.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the insurance provider's stock. Morgan Stanley's price target points to a potential upside of 2.33% from the company's current price.

Several other analysts also recently weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of The Hanover Insurance Group in a research note on Saturday, September 27th. JMP Securities set a $205.00 target price on The Hanover Insurance Group in a research note on Thursday, July 31st. Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. Finally, Keefe, Bruyette & Woods upgraded The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 target price on the stock in a research note on Wednesday, July 9th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, The Hanover Insurance Group currently has a consensus rating of "Moderate Buy" and an average target price of $185.75.

The Hanover Insurance Group Stock Up 0.6%

Shares of The Hanover Insurance Group stock traded up $1.06 during midday trading on Tuesday, hitting $185.68. The company had a trading volume of 9,543 shares, compared to its average volume of 243,945. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $6.64 billion, a P/E ratio of 12.20 and a beta of 0.44. The company has a 50 day moving average of $174.94 and a 200 day moving average of $169.50. The Hanover Insurance Group has a 52-week low of $144.62 and a 52-week high of $186.24.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $3.07 by $1.28. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. The Hanover Insurance Group had a return on equity of 20.24% and a net margin of 8.67%.The firm's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.88 EPS. On average, equities analysts predict that The Hanover Insurance Group will post 14.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of THG. Norges Bank purchased a new position in shares of The Hanover Insurance Group in the 2nd quarter worth $77,169,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of The Hanover Insurance Group in the 1st quarter worth $64,340,000. Alliancebernstein L.P. boosted its stake in shares of The Hanover Insurance Group by 36.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider's stock worth $217,505,000 after buying an additional 339,896 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of The Hanover Insurance Group by 45.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 907,760 shares of the insurance provider's stock worth $157,905,000 after buying an additional 282,233 shares during the last quarter. Finally, Woodline Partners LP boosted its stake in shares of The Hanover Insurance Group by 166.7% in the 1st quarter. Woodline Partners LP now owns 346,275 shares of the insurance provider's stock worth $60,235,000 after buying an additional 216,427 shares during the last quarter. 86.61% of the stock is currently owned by hedge funds and other 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.

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