JMP Securities Forecasts Strong Price Appreciation for The Hanover Insurance Group (NYSE:THG) Stock

Key Points

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The Hanover Insurance Group (NYSE:THG - Get Free Report) had its price target hoisted by analysts at JMP Securities from $185.00 to $200.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "market outperform" rating on the insurance provider's stock. JMP Securities' price objective would indicate a potential upside of 17.15% from the company's current price.

A number of other equities research analysts also recently commented on THG. Keefe, Bruyette & Woods upgraded shares of The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 price objective for the company in a research report on Wednesday, July 9th. Wall Street Zen upgraded shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Citigroup restated an "outperform" rating on shares of The Hanover Insurance Group in a research report on Thursday. Finally, Morgan Stanley raised their price objective on shares of 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. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $185.13.

The Hanover Insurance Group Stock Performance

Shares of THG traded up $1.89 during mid-day trading on Thursday, hitting $170.72. 9,184 shares of the company's stock were exchanged, compared to its average volume of 252,025. The Hanover Insurance Group has a fifty-two week low of $130.60 and a fifty-two week high of $178.68. The firm has a market capitalization of $6.11 billion, a P/E ratio of 11.24 and a beta of 0.45. The business's 50 day moving average is $168.21 and its two-hundred day moving average is $165.23. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.11.

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

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Bryan J. Salvatore sold 10,526 shares of the stock in a transaction dated 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 directly owned 25,864 shares of the company's stock, valued at approximately $4,308,942.40. This trade represents a 28.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of THG. Clearstead Trust LLC purchased a new position in shares of The Hanover Insurance Group during the 1st quarter worth approximately $27,000. Ameritas Advisory Services LLC purchased a new position in shares of The Hanover Insurance Group during the 2nd quarter worth approximately $39,000. True Wealth Design LLC increased its stake 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 purchasing an additional 138 shares in the last quarter. Versant Capital Management Inc increased its stake 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 purchasing an additional 232 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of The Hanover Insurance Group during the 1st quarter worth approximately $53,000. 86.61% of the stock is 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.