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

The Hanover Insurance Group (NYSE:THG) had its target price increased by equities researchers at Keefe, Bruyette & Woods from $222.00 to $232.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 1.06% from the stock’s current price.

A number of other brokerages also recently commented on THG. Piper Sandler downgraded The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price on the stock. in a research note on Wednesday, July 15th. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. Zacks Research upgraded The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Citizens Jmp boosted their price target on The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 29th. Finally, Morgan Stanley increased their price objective on The Hanover Insurance Group from $235.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $227.14.

The Hanover Insurance Group Stock Performance

Shares of THG stock opened at $229.57 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group has a 1-year low of $166.54 and a 1-year high of $236.07. The stock’s fifty day simple moving average is $223.88 and its 200-day simple moving average is $200.61. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 10.96 and a beta of 0.26.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business posted $4.35 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, sell-side analysts predict that The Hanover Insurance Group will post 20.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other The Hanover Insurance Group news, EVP Dennis Kerrigan sold 2,104 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $222.41, for a total value of $467,950.64. Following the completion of the transaction, the executive vice president owned 12,003 shares of the company’s stock, valued at $2,669,587.23. This represents a 14.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jane Carlin sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $231.50, for a total value of $231,500.00. Following the completion of the transaction, the director directly owned 2,270 shares of the company’s stock, valued at approximately $525,505. This trade represents a 30.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 9,655 shares of company stock valued at $2,145,846. Insiders own 2.80% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

Several institutional investors have recently modified their holdings of THG. BlackRock Inc. bought a new stake in shares of The Hanover Insurance Group in the 2nd quarter worth about $756,471,000. Dimensional Fund Advisors LP increased its holdings in shares of The Hanover Insurance Group by 16.4% during the first quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock worth $168,179,000 after buying an additional 136,998 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of 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 worth $143,416,000 after acquiring an additional 25,945 shares in the last quarter. Geode Capital Management LLC grew its position in The Hanover Insurance Group by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 727,958 shares of the insurance provider’s stock worth $133,073,000 after acquiring an additional 29,870 shares during the last quarter. Finally, Norges Bank acquired a new stake in The Hanover Insurance Group during the 4th quarter valued at $83,817,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its offerings are designed for individuals, families, businesses and specialty-market customers, with a focus on helping policyholders manage risks involving property, automobiles, liability and business operations.

The company’s personal lines business includes automobile, homeowners, renters, condominium, umbrella and related insurance products.