The Hanover Insurance Group (NYSE:THG) Raised to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of The Hanover Insurance Group (NYSE:THG - Free Report) from a market perform rating to an outperform rating in a report published on Wednesday morning, MarketBeat.com reports. They currently have $188.00 target price on the insurance provider's stock.

Other equities analysts have also issued research reports about the company. Wall Street Zen raised The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Piper Sandler lifted their target price on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Morgan Stanley lifted their target price on The Hanover Insurance Group from $163.00 to $170.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, JMP Securities lifted their target price on The Hanover Insurance Group from $175.00 to $185.00 and gave the company a "market outperform" rating in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, The Hanover Insurance Group has an average rating of "Moderate Buy" and a consensus price target of $181.38.

The Hanover Insurance Group Price Performance

Shares of NYSE:THG traded down $1.29 during trading on Wednesday, reaching $164.52. The stock had a trading volume of 51,061 shares, compared to its average volume of 248,004. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The business has a fifty day moving average price of $168.72 and a 200-day moving average price of $163.65. The stock has a market cap of $5.91 billion, a PE ratio of 13.70 and a beta of 0.44. The Hanover Insurance Group has a 1-year low of $124.20 and a 1-year high of $178.68.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share for the quarter, topping analysts' consensus estimates of $3.58 by $0.29. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.55 billion. The Hanover Insurance Group had a return on equity of 18.23% and a net margin of 6.98%. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.08 earnings per share. On average, equities analysts forecast that The Hanover Insurance Group will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.19%. The ex-dividend date was Friday, June 13th. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 29.98%.

Insider Activity at The Hanover Insurance Group

In other news, EVP Bryan J. Salvatore sold 10,526 shares of The Hanover Insurance Group stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $166.60, for a total transaction of $1,753,631.60. Following the completion of the sale, the executive vice president directly owned 25,864 shares of the company's stock, valued at approximately $4,308,942.40. The trade was a 28.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.50% of the company's stock.

Institutional Trading of The Hanover Insurance Group

A number of hedge funds and other institutional investors have recently bought and sold shares of THG. Clearstead Trust LLC acquired a new position in shares of The Hanover Insurance Group during the 1st quarter worth about $27,000. EverSource Wealth Advisors LLC boosted its position in shares of The Hanover Insurance Group by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider's stock worth $33,000 after acquiring an additional 102 shares in the last quarter. True Wealth Design LLC boosted its position in shares of The Hanover Insurance Group by 81.7% during the 4th quarter. True Wealth Design LLC now owns 307 shares of the insurance provider's stock worth $47,000 after acquiring an additional 138 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of The Hanover Insurance Group by 331.4% during the 1st quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider's stock worth $53,000 after acquiring an additional 232 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of The Hanover Insurance Group during the 1st quarter worth about $53,000. 86.61% of the stock is currently owned by institutional investors and hedge funds.

About The Hanover Insurance Group

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.