The Hanover Insurance Group, Inc. (NYSE:THG) Stock Has Consensus Price Target of $231.43 According to Analysts

The Hanover Insurance Group, Inc. (NYSE:THG) has been given an average recommendation of “Moderate Buy” by the ten research firms that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $231.43.

Several equities research analysts recently commented on THG shares. Citizens Jmp increased their price objective on The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 29th. Oppenheimer reissued an “outperform” rating and issued a $260.00 target price on shares of The Hanover Insurance Group in a research report on Tuesday, October 13th. Zacks Research upgraded shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a report on Friday, July 10th. Finally, Piper Sandler lowered shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price target for the company. in a research note on Wednesday, July 15th.

The Hanover Insurance Group Stock Performance

Shares of THG stock opened at $232.22 on Thursday. The Hanover Insurance Group has a 12 month low of $166.54 and a 12 month high of $236.07. The stock has a market cap of $8.09 billion, a PE ratio of 11.08 and a beta of 0.23. 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 company’s fifty day moving average price is $224.44 and its 200-day moving average price is $208.78.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.84 by $1.47. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the business earned $4.35 earnings per share. On average, equities analysts expect that The Hanover Insurance Group will post 20.25 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were given a dividend of $0.95 per share. The ex-dividend date was Friday, September 11th. This represents a $3.80 dividend on an annualized basis and a yield of 1.6%. The Hanover Insurance Group’s dividend payout ratio is 18.14%.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Dennis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $222.41, for a total value of $467,950.64. Following the completion of the sale, the executive vice president owned 12,003 shares of the company’s stock, valued at approximately $2,669,587.23. The trade was a 14.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jane D. Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,655 shares of company stock worth $2,145,846 in the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in The Hanover Insurance Group during the second quarter valued at $756,471,000. Dimensional Fund Advisors LP lifted its holdings in The Hanover Insurance Group by 16.4% in the first quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock valued at $168,179,000 after acquiring an additional 136,998 shares during the period. First Trust Advisors LP boosted its position in The Hanover Insurance Group by 3.2% in the first quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock worth $143,416,000 after purchasing an additional 25,945 shares during the last quarter. Bank of New York Mellon Corp boosted its position in The Hanover Insurance Group by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 338,870 shares of the insurance provider’s stock worth $58,743,000 after purchasing an additional 5,219 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in The Hanover Insurance Group by 10.1% in the first quarter. Bank of America Corp DE now owns 251,130 shares of the insurance provider’s stock worth $43,533,000 after purchasing an additional 22,978 shares during the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

About The Hanover Insurance Group

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 principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.

The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers’ compensation and other specialized coverages.

The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.