The Hanover Insurance Group, Inc. (NYSE:THG) Receives $173.40 Consensus PT from Analysts

The Hanover Insurance Group, Inc. (NYSE:THG) has received an average rating of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $173.40.

A number of research firms have recently weighed in on THG. Bank of America upped their price target on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. JMP Securities upped their target price on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Oppenheimer increased their price objective on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th.

The Hanover Insurance Group Stock Up 0.9 %

NYSE:THG opened at $163.48 on Thursday. The Hanover Insurance Group has a 1-year low of $116.70 and a 1-year high of $164.67. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 16.22 and a beta of 0.70. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average price is $150.50 and its 200 day moving average price is $138.47.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.40. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the firm earned $0.19 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that The Hanover Insurance Group will post 11.29 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a yield of 2.08%. The Hanover Insurance Group’s payout ratio is currently 33.73%.

Insider Activity

In related news, EVP Jeffrey M. Farber sold 6,114 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $162.36, for a total transaction of $992,669.04. Following the completion of the sale, the executive vice president now owns 54,091 shares in the company, valued at $8,782,214.76. This represents a 10.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard W. Lavey sold 8,468 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 36,281 shares in the company, valued at $5,224,826.81. This trade represents a 18.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,303 shares of company stock valued at $6,306,926 over the last 90 days. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Several large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its position in The Hanover Insurance Group by 14,711.0% during the 3rd quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider’s stock worth $81,823,000 after acquiring an additional 548,720 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in The Hanover Insurance Group by 10.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider’s stock valued at $219,883,000 after acquiring an additional 143,339 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in The Hanover Insurance Group in the second quarter worth about $14,684,000. AQR Capital Management LLC raised its holdings in The Hanover Insurance Group by 116.7% during the 2nd quarter. AQR Capital Management LLC now owns 114,643 shares of the insurance provider’s stock worth $14,150,000 after purchasing an additional 61,738 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in The Hanover Insurance Group during the 2nd quarter worth about $4,284,000. 86.61% of the stock is currently owned by institutional investors and hedge funds.

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.