The Hanover Insurance Group (NYSE:THG) Price Target Raised to $205.00

The Hanover Insurance Group (NYSE:THG) had its target price boosted by Piper Sandler from $190.00 to $205.00 in a research report released on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the insurance provider’s stock.

Several other research firms also recently issued reports on THG. BMO Capital Markets upped their price target on The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Barclays upgraded The Hanover Insurance Group to a “hold” rating in a report on Friday, January 24th. Morgan Stanley boosted their price objective on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The Hanover Insurance Group from $176.00 to $179.00 and gave the stock a “market perform” rating in a report on Monday, February 10th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $179.00.

The Hanover Insurance Group Trading Up 0.8 %

NYSE:THG opened at $175.27 on Tuesday. The company has a market capitalization of $6.30 billion, a P/E ratio of 14.99 and a beta of 0.65. The stock’s 50 day moving average price is $164.17 and its 200 day moving average price is $157.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.40 and a current ratio of 0.40. The Hanover Insurance Group has a 52 week low of $119.66 and a 52 week high of $176.16.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. On average, research analysts forecast that The Hanover Insurance Group will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.05%. The Hanover Insurance Group’s payout ratio is 30.80%.

Insider Activity at The Hanover Insurance Group

In related news, CEO John C. Roche sold 301 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $175.00, for a total value of $52,675.00. Following the completion of the transaction, the chief executive officer now directly owns 124,414 shares in the company, valued at approximately $21,772,450. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of The Hanover Insurance Group during the 4th quarter valued at about $67,928,000. Franklin Resources Inc. lifted its stake in The Hanover Insurance Group by 28.6% during the fourth quarter. Franklin Resources Inc. now owns 1,217,919 shares of the insurance provider’s stock worth $188,363,000 after purchasing an additional 270,491 shares during the period. Wealthfront Advisers LLC bought a new position in The Hanover Insurance Group during the fourth quarter worth about $21,797,000. American Century Companies Inc. boosted its holdings in The Hanover Insurance Group by 15.7% during the fourth quarter. American Century Companies Inc. now owns 958,858 shares of the insurance provider’s stock valued at $148,297,000 after purchasing an additional 130,054 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of The Hanover Insurance Group by 75.7% in the 4th quarter. AQR Capital Management LLC now owns 287,356 shares of the insurance provider’s stock valued at $44,443,000 after purchasing an additional 123,793 shares during the period. Institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Company Profile

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.