The Hanover Insurance Group (NYSE:THG) Earns Market Perform Rating from Keefe, Bruyette & Woods

The Hanover Insurance Group (NYSE:THG)‘s stock had its “market perform” rating reissued by analysts at Keefe, Bruyette & Woods in a research note issued on Wednesday,Benzinga reports. They currently have a $220.00 price target on the insurance provider’s stock, up from their previous price target of $211.00. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 0.87% from the company’s current price.

A number of other equities research analysts also recently commented on THG. Weiss Ratings raised The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, May 22nd. Citigroup reissued an “outperform” rating on shares of The Hanover Insurance Group in a research report on Thursday, April 30th. Piper Sandler lifted their price objective on shares of The Hanover Insurance Group from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Royal Bank Of Canada upped their price objective on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Finally, Zacks Research upgraded shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $211.86.

The Hanover Insurance Group Price Performance

Shares of THG opened at $218.11 on Wednesday. The firm has a market capitalization of $7.63 billion, a PE ratio of 10.98 and a beta of 0.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37. The Hanover Insurance Group has a 1-year low of $160.97 and a 1-year high of $225.29. The company’s fifty day moving average price is $196.71 and its 200-day moving average price is $183.26.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.14 by $1.11. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $3.87 EPS. On average, equities research analysts predict that The Hanover Insurance Group will post 18.36 EPS for the current year.

The Hanover Insurance Group announced that its board has approved a stock buyback program on Wednesday, May 13th that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 10.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other The Hanover Insurance Group news, Director Cynthia Egan sold 3,400 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $188.50, for a total value of $640,900.00. Following the completion of the transaction, the director owned 9,359 shares in the company, valued at approximately $1,764,171.50. This represents a 26.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dennis Francis Kerrigan sold 6,262 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $192.99, for a total transaction of $1,208,503.38. Following the sale, the executive vice president directly owned 11,988 shares in the company, valued at approximately $2,313,564.12. The trade was a 34.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 29,508 shares of company stock worth $5,704,651. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Large investors have recently bought and sold shares of the business. Alliancebernstein L.P. increased 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of The Hanover Insurance Group by 16.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock valued at $168,179,000 after buying an additional 136,998 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of The Hanover Insurance Group by 24.9% during the 4th quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider’s stock valued at $174,322,000 after buying an additional 190,350 shares in the last quarter. First Trust Advisors LP grew its stake in The Hanover Insurance Group by 3.2% in the 1st quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock valued at $143,416,000 after acquiring an additional 25,945 shares during the period. Finally, Geode Capital Management LLC grew its stake in The Hanover Insurance Group by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 727,958 shares of the insurance provider’s stock valued at $133,073,000 after acquiring an additional 29,870 shares during the period. Institutional investors and hedge funds 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.