The Hanover Insurance Group (NYSE:THG) Price Target Raised to $180.00 at BMO Capital Markets

The Hanover Insurance Group (NYSE:THG) had its price objective increased by research analysts at BMO Capital Markets from $161.00 to $180.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. BMO Capital Markets’ target price points to a potential upside of 19.92% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. JMP Securities upped their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Piper Sandler upped their target price on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Bank of America lifted their price target on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Janney Montgomery Scott downgraded The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective for the company. in a research note on Thursday, November 21st. Finally, Oppenheimer raised their target price on The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.13.

The Hanover Insurance Group Stock Down 1.3 %

The Hanover Insurance Group stock opened at $150.10 on Thursday. The company has a market capitalization of $5.41 billion, a PE ratio of 14.89 and a beta of 0.71. The Hanover Insurance Group has a 12-month low of $119.36 and a 12-month high of $166.13. The firm’s fifty day moving average is $156.45 and its 200 day moving average is $142.74. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27.

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 for the quarter, beating the consensus estimate of $2.65 by $0.40. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. As a group, sell-side analysts predict that The Hanover Insurance Group will post 11.41 EPS for the current fiscal year.

Insider Activity

In other news, EVP Jeffrey M. Farber sold 12,000 shares of The Hanover Insurance Group stock in a transaction on Friday, October 18th. The stock was sold at an average price of $155.08, for a total value of $1,860,960.00. Following the completion of the transaction, the executive vice president now directly owns 66,091 shares in the company, valued at approximately $10,249,392.28. The trade was a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 29,051 shares of company stock valued at $4,556,803 over the last quarter. Company insiders own 2.40% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its position in shares of The Hanover Insurance Group by 104.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,967 shares of the insurance provider’s stock valued at $1,772,000 after acquiring an additional 6,112 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of The Hanover Insurance Group by 82.4% during the third quarter. HighTower Advisors LLC now owns 11,500 shares of the insurance provider’s stock valued at $1,702,000 after purchasing an additional 5,194 shares during the period. Markel Group Inc. grew its holdings in The Hanover Insurance Group by 5.8% in the 3rd quarter. Markel Group Inc. now owns 254,000 shares of the insurance provider’s stock worth $37,620,000 after acquiring an additional 14,000 shares during the last quarter. FMR LLC grew its stake in shares of The Hanover Insurance Group by 11.5% in the third quarter. FMR LLC now owns 170,615 shares of the insurance provider’s stock worth $25,270,000 after purchasing an additional 17,583 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of The Hanover Insurance Group by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 369,545 shares of the insurance provider’s stock worth $54,733,000 after buying an additional 17,856 shares during the last quarter. 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.