The Hanover Insurance Group (NYSE:THG) Upgraded 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 research note issued to investors on Wednesday morning, Marketbeat.com reports. The brokerage currently has $188.00 target price on the insurance provider's stock.

Several other analysts also recently issued reports on the stock. JMP Securities upped their price objective on shares of The Hanover Insurance Group from $175.00 to $185.00 and gave the stock a "market outperform" rating in a report on Thursday, May 1st. Morgan Stanley upped their price objective on shares of The Hanover Insurance Group from $163.00 to $170.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Wall Street Zen raised shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Finally, Piper Sandler increased their price target on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.38.

The Hanover Insurance Group Stock Performance

Shares of The Hanover Insurance Group stock remained flat at $163.49 on Wednesday. 186,943 shares of the stock were exchanged, compared to its average volume of 217,446. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average price of $168.53 and a 200-day moving average price of $163.83. The company has a market capitalization of $5.87 billion, a PE ratio of 13.61 and a beta of 0.44. The Hanover Insurance Group has a twelve month low of $126.50 and a twelve month high of $178.68.

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

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, June 13th. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 29.98%.

Insider Activity

In other news, EVP Bryan J. Salvatore sold 10,526 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $166.60, for a total value of $1,753,631.60. Following the completion of the transaction, the executive vice president owned 25,864 shares in the company, valued at approximately $4,308,942.40. This represents a 28.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On The Hanover Insurance Group

Hedge funds have recently made changes to their positions in the business. Clearstead Trust LLC acquired a new position in shares of The Hanover Insurance Group in the 1st quarter valued at $27,000. EverSource Wealth Advisors LLC raised its stake in shares of The Hanover Insurance Group by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider's stock valued at $33,000 after buying an additional 102 shares in the last quarter. True Wealth Design LLC raised its stake in shares of The Hanover Insurance Group by 81.7% in the 4th quarter. True Wealth Design LLC now owns 307 shares of the insurance provider's stock valued at $47,000 after buying an additional 138 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of The Hanover Insurance Group by 331.4% in the 1st quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider's stock valued at $53,000 after buying an additional 232 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of The Hanover Insurance Group in the 1st quarter valued at $53,000. Institutional investors and hedge funds own 86.61% of the company's stock.

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.