The Hanover Insurance Group (NYSE:THG) Price Target Raised to $160.00 at JMP Securities

The Hanover Insurance Group (NYSE:THG) had its price objective upped by JMP Securities from $150.00 to $160.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a market outperform rating on the insurance provider’s stock.

THG has been the topic of a number of other reports. Keefe, Bruyette & Woods increased their target price on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the stock a market perform rating in a report on Wednesday, April 10th. Oppenheimer raised their price objective on shares of The Hanover Insurance Group from $150.00 to $165.00 and gave the company an outperform rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $151.00.

The Hanover Insurance Group Trading Up 0.7 %

Shares of THG stock traded up $0.94 during trading hours on Thursday, hitting $135.97. The company had a trading volume of 27,907 shares, compared to its average volume of 172,599. The company’s fifty day moving average is $128.07 and its 200 day moving average is $130.37. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.39 and a quick ratio of 0.39. The Hanover Insurance Group has a fifty-two week low of $103.82 and a fifty-two week high of $139.25. The stock has a market capitalization of $4.89 billion, a PE ratio of 30.49 and a beta of 0.68.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, hitting the consensus estimate of $1.88. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.66%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business posted ($1.91) EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts expect that The Hanover Insurance Group will post 10.53 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.50%. The ex-dividend date was Thursday, June 13th. The Hanover Insurance Group’s payout ratio is currently 76.23%.

Insiders Place Their Bets

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,119 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $132.25, for a total transaction of $147,987.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Willard T. Lee sold 1,000 shares of The Hanover Insurance Group stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $135.94, for a total value of $135,940.00. Following the sale, the executive vice president now owns 4,398 shares of the company’s stock, valued at $597,864.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jane D. Carlin sold 1,119 shares of The Hanover Insurance Group stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $132.25, for a total transaction of $147,987.75. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

Institutional Trading of The Hanover Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in THG. UMB Bank n.a. lifted its stake in shares of The Hanover Insurance Group by 55.6% in the fourth quarter. UMB Bank n.a. now owns 235 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 84 shares during the period. Riverview Trust Co acquired a new stake in shares of The Hanover Insurance Group in the first quarter valued at about $31,000. Quarry LP acquired a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at about $34,000. 1620 Investment Advisors Inc. acquired a new stake in shares of The Hanover Insurance Group in the second quarter valued at about $42,000. Finally, Baystate Wealth Management LLC lifted its stake in shares of The Hanover Insurance Group by 4,400.0% in the fourth quarter. Baystate Wealth Management LLC now owns 360 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 352 shares during the period. Hedge funds and other 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.