The Hanover Insurance Group (NYSE:THG) Price Target Raised to $200.00

Key Points

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The Hanover Insurance Group (NYSE:THG - Get Free Report) had its price objective raised by research analysts at JMP Securities from $185.00 to $200.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "market outperform" rating on the insurance provider's stock. JMP Securities' price objective points to a potential upside of 18.56% from the company's current price.

A number of other research analysts have also recently weighed in on the company. 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 report on Monday, May 19th. Wall Street Zen upgraded The Hanover Insurance Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a report on Thursday. 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 report on Wednesday, July 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of "Moderate Buy" and an average target price of $185.13.

The Hanover Insurance Group Price Performance

NYSE:THG traded down $2.94 during trading hours on Thursday, reaching $168.69. 412,993 shares of the company traded hands, compared to its average volume of 267,355. The firm's 50-day moving average is $168.21 and its 200-day moving average is $165.12. The stock has a market cap of $6.06 billion, a P/E ratio of 11.11 and a beta of 0.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.36 and a quick ratio of 0.38. The Hanover Insurance Group has a 1-year low of $130.60 and a 1-year high of $178.68.

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

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Bryan J. Salvatore sold 10,526 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total value of $1,753,631.60. Following the transaction, the executive vice president directly owned 25,864 shares of the company's stock, valued at $4,308,942.40. This trade represents a 28.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its position in shares of The Hanover Insurance Group by 47.7% during the fourth quarter. LPL Financial LLC now owns 11,915 shares of the insurance provider's stock worth $1,843,000 after acquiring an additional 3,847 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of The Hanover Insurance Group by 5.2% during the fourth quarter. JPMorgan Chase & Co. now owns 72,738 shares of the insurance provider's stock worth $11,250,000 after acquiring an additional 3,573 shares during the last quarter. Norges Bank purchased a new stake in shares of The Hanover Insurance Group during the fourth quarter worth about $67,928,000. Pictet Asset Management Holding SA increased its position in shares of The Hanover Insurance Group by 15.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,437 shares of the insurance provider's stock worth $841,000 after acquiring an additional 722 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its position in shares of The Hanover Insurance Group by 28.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 7,290 shares of the insurance provider's stock worth $1,128,000 after acquiring an additional 1,631 shares during the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

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.