The Hanover Insurance Group (NYSE:THG) Price Target Raised to $211.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised its price target on The Hanover Insurance Group from $208 to $211 and kept an "outperform" rating, implying roughly a 12.85% upside; the Street consensus is a "Moderate Buy" with an average target of $203.60.
• The Hanover reported a strong quarter with EPS of $5.25 (vs. $4.14 est.) and $1.70B revenue (vs. $1.58B est.), while the stock trades around $186.98, sporting a P/E of 9.4 and a $6.54B market cap.

The Hanover Insurance Group (NYSE:THG - Get Free Report) had its price objective boosted by Keefe, Bruyette & Woods from $208.00 to $211.00 in a report released on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 12.85% from the stock's previous close.

A number of other equities analysts also recently issued reports on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of The Hanover Insurance Group in a research note on Monday, April 20th. Morgan Stanley set a $195.00 target price on shares of The Hanover Insurance Group in a research report on Friday, May 1st. Piper Sandler increased their price objective on The Hanover Insurance Group from $204.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a report on Thursday, April 30th. Finally, Wall Street Zen downgraded The Hanover Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $203.60.

The Hanover Insurance Group Trading Up 0.3%

Shares of THG traded up $0.61 during trading hours on Thursday, hitting $186.98. 96,870 shares of the stock were exchanged, compared to its average volume of 331,542. The Hanover Insurance Group has a fifty-two week low of $160.70 and a fifty-two week high of $191.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37. The business has a 50-day moving average of $176.75 and a 200-day moving average of $177.20. The firm has a market capitalization of $6.54 billion, a P/E ratio of 9.40 and a beta of 0.31.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.14 by $1.11. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm earned $3.87 earnings per share. The Hanover Insurance Group's revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that The Hanover Insurance Group will post 18.02 EPS for the current year.

Insider Activity at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 1,200 shares of the business's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $180.91, for a total transaction of $217,092.00. Following the completion of the transaction, the director owned 2,423 shares in the company, valued at $438,344.93. The trade was a 33.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cynthia Egan sold 3,400 shares of the company's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $188.50, for a total transaction of $640,900.00. Following the transaction, the director owned 9,359 shares in the company, valued at $1,764,171.50. The trade was a 26.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Precision Wealth Strategies LLC increased its stake in The Hanover Insurance Group by 64.1% during the 1st quarter. Precision Wealth Strategies LLC now owns 4,711 shares of the insurance provider's stock valued at $817,000 after purchasing an additional 1,840 shares in the last quarter. Kera Capital Partners Inc. increased its stake in The Hanover Insurance Group by 69.5% during the 1st quarter. Kera Capital Partners Inc. now owns 2,558 shares of the insurance provider's stock valued at $443,000 after purchasing an additional 1,049 shares in the last quarter. Gallacher Capital Management LLC acquired a new position in The Hanover Insurance Group during the 1st quarter valued at approximately $222,000. Angeles Wealth Management LLC acquired a new position in The Hanover Insurance Group during the 1st quarter valued at approximately $250,000. Finally, Bessemer Group Inc. increased its stake in The Hanover Insurance Group by 0.8% during the 1st quarter. Bessemer Group Inc. now owns 17,968 shares of the insurance provider's stock valued at $3,114,000 after purchasing an additional 134 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company's stock.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc NYSE: THG is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers' compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.

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