Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for The Hanover Insurance Group (NYSE:THG) Stock

The Hanover Insurance Group (NYSE:THG) had its price objective lifted by research analysts at Keefe, Bruyette & Woods from $200.00 to $207.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 18.15% from the stock’s current price.

Several other brokerages also recently weighed in on THG. Weiss Ratings reiterated a “buy (b)” rating on shares of The Hanover Insurance Group in a report on Wednesday, January 21st. Royal Bank Of Canada assumed coverage on shares of The Hanover Insurance Group in a research note on Monday, November 24th. They issued a “sector perform” rating and a $200.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.40.

The Hanover Insurance Group Stock Performance

Shares of THG traded down $0.77 during trading hours on Monday, reaching $175.21. 7,215 shares of the company traded hands, compared to its average volume of 426,284. The company has a quick ratio of 0.42, a current ratio of 0.43 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average price of $178.16 and a 200-day moving average price of $176.61. The Hanover Insurance Group has a 12-month low of $147.76 and a 12-month high of $188.18. The stock has a market capitalization of $6.23 billion, a P/E ratio of 9.67 and a beta of 0.32.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Tuesday, February 3rd. The insurance provider reported $5.79 earnings per share for the quarter, beating the consensus estimate of $5.20 by $0.59. The Hanover Insurance Group had a return on equity of 21.00% and a net margin of 10.05%.The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the business earned $5.32 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that The Hanover Insurance Group will post 14.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other The Hanover Insurance Group news, EVP Richard W. Lavey sold 24,420 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $178.92, for a total transaction of $4,369,226.40. Following the transaction, the executive vice president directly owned 32,174 shares of the company’s stock, valued at $5,756,572.08. This trade represents a 43.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Denise Lowsley sold 1,619 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $181.47, for a total transaction of $293,799.93. Following the sale, the executive vice president directly owned 3,511 shares of the company’s stock, valued at $637,141.17. This represents a 31.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in THG. Alliancebernstein L.P. raised its position in shares of The Hanover Insurance Group by 36.1% in the second quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock valued at $217,505,000 after buying an additional 339,896 shares during the last quarter. AQR Capital Management LLC lifted its stake in The Hanover Insurance Group by 37.8% in the 3rd quarter. AQR Capital Management LLC now owns 763,431 shares of the insurance provider’s stock worth $137,967,000 after purchasing an additional 209,616 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of The Hanover Insurance Group by 16.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 639,890 shares of the insurance provider’s stock worth $116,223,000 after purchasing an additional 88,928 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of The Hanover Insurance Group by 28.5% in the third quarter. First Trust Advisors LP now owns 639,264 shares of the insurance provider’s stock valued at $116,110,000 after purchasing an additional 141,835 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in The Hanover Insurance Group by 52.9% during the second quarter. Adage Capital Partners GP L.L.C. now owns 558,000 shares of the insurance provider’s stock worth $94,787,000 after buying an additional 193,000 shares in the last quarter. Hedge funds and other institutional investors 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.