Piper Sandler Reiterates “Overweight” Rating for The Hanover Insurance Group (NYSE:THG)

The Hanover Insurance Group (NYSE:THGGet Free Report)‘s stock had its “overweight” rating reissued by Piper Sandler in a note issued to investors on Monday, Benzinga reports. They currently have a $147.00 price objective on the insurance provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 10.71% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on The Hanover Insurance Group from $124.00 to $137.00 and gave the company a “market perform” rating in a report on Tuesday, February 6th. StockNews.com upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Oppenheimer upped their target price on The Hanover Insurance Group from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, TheStreet upgraded The Hanover Insurance Group from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, The Hanover Insurance Group has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Read Our Latest Research Report on THG

The Hanover Insurance Group Stock Down 0.8 %

Shares of NYSE:THG opened at $132.78 on Monday. The Hanover Insurance Group has a 1 year low of $103.82 and a 1 year high of $138.00. The company has a market cap of $4.76 billion, a PE ratio of 141.26 and a beta of 0.67. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.39 and a quick ratio of 0.39. The stock’s 50-day moving average is $131.77 and its 200 day moving average is $123.61.

The Hanover Insurance Group (NYSE:THGGet Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.62. The Hanover Insurance Group had a return on equity of 2.44% and a net margin of 0.59%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.56 billion. Sell-side analysts anticipate that The Hanover Insurance Group will post 10.07 EPS for the current year.

Insider Buying and Selling

In related news, SVP Warren E. Barnes sold 500 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $131.14, for a total value of $65,570.00. Following the sale, the senior vice president now owns 3,612 shares in the company, valued at approximately $473,677.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its position in The Hanover Insurance Group by 129.8% in the 4th quarter. Advisors Asset Management Inc. now owns 216 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 122 shares in the last quarter. UMB Bank n.a. lifted its position in The Hanover Insurance Group by 55.6% in the 4th quarter. UMB Bank n.a. now owns 235 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 84 shares in the last quarter. Quarry LP bought a new position in The Hanover Insurance Group in the 4th quarter valued at approximately $34,000. Baystate Wealth Management LLC lifted its position in The Hanover Insurance Group by 4,400.0% in the 4th quarter. Baystate Wealth Management LLC now owns 360 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 352 shares in the last quarter. Finally, Covestor Ltd lifted its position in The Hanover Insurance Group by 35.4% in the 1st quarter. Covestor Ltd now owns 520 shares of the insurance provider’s stock valued at $78,000 after acquiring an additional 136 shares in the last quarter. 86.61% of the stock is owned by institutional investors.

About The Hanover Insurance Group

(Get Free Report)

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.

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Analyst Recommendations for The Hanover Insurance Group (NYSE:THG)

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