Bank of America Increases The Hanover Insurance Group (NYSE:THG) Price Target to $170.00

The Hanover Insurance Group (NYSE:THG) had its target price increased by investment analysts at Bank of America from $158.00 to $170.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Bank of America‘s price objective would suggest a potential upside of 15.13% from the company’s previous close.

A number of other analysts also recently commented on THG. Piper Sandler boosted their target price on The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. JMP Securities boosted their price objective on shares of The Hanover Insurance Group from $150.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $160.20.

The Hanover Insurance Group Stock Up 0.2 %

Shares of NYSE THG opened at $147.66 on Thursday. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 33.11 and a beta of 0.69. The Hanover Insurance Group has a 52 week low of $109.55 and a 52 week high of $150.95. The firm has a 50-day moving average price of $142.55 and a 200 day moving average price of $134.54. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.88. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.49 billion. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted ($1.91) earnings per share. Equities research analysts anticipate that The Hanover Insurance Group will post 10.99 EPS for the current fiscal year.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Richard W. Lavey sold 8,468 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $144.01, for a total value of $1,219,476.68. Following the transaction, the executive vice president now directly owns 36,281 shares in the company, valued at approximately $5,224,826.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Jeffrey M. Farber sold 1,200 shares of The Hanover Insurance Group stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $150.11, for a total value of $180,132.00. Following the completion of the sale, the executive vice president now owns 85,983 shares of the company’s stock, valued at $12,906,908.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard W. Lavey sold 8,468 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $144.01, for a total value of $1,219,476.68. Following the transaction, the executive vice president now owns 36,281 shares in the company, valued at $5,224,826.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,352 shares of company stock worth $1,766,623. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of The Hanover Insurance Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in THG. Creative Planning boosted its holdings in shares of The Hanover Insurance Group by 20.8% in the 3rd quarter. Creative Planning now owns 12,718 shares of the insurance provider’s stock valued at $1,884,000 after purchasing an additional 2,193 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of The Hanover Insurance Group by 35.4% during the 3rd quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock worth $62,000 after buying an additional 109 shares during the last quarter. CWM LLC raised its position in shares of The Hanover Insurance Group by 14.8% in the 3rd quarter. CWM LLC now owns 11,104 shares of the insurance provider’s stock worth $1,645,000 after buying an additional 1,435 shares during the period. Handelsbanken Fonder AB boosted its holdings in The Hanover Insurance Group by 13.2% in the third quarter. Handelsbanken Fonder AB now owns 7,737 shares of the insurance provider’s stock valued at $1,146,000 after acquiring an additional 900 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in The Hanover Insurance Group during the second quarter valued at about $385,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

About The Hanover Insurance Group

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.