Analysts Set The Hanover Insurance Group, Inc. (NYSE:THG) PT at $225.71

The Hanover Insurance Group, Inc. (NYSE:THG) has been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $225.7143.

Several research firms have issued reports on THG. Piper Sandler cut shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price on the stock. in a research note on Wednesday, July 15th. Morgan Stanley upped their price target on shares of The Hanover Insurance Group from $235.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. Oppenheimer increased their price objective on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Citizens Jmp lifted their price objective on The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 29th. Finally, Zacks Research upgraded The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th.

The Hanover Insurance Group Stock Performance

Shares of THG stock opened at $225.95 on Wednesday. The stock has a market capitalization of $7.87 billion, a P/E ratio of 10.79 and a beta of 0.26. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $220.76 and its 200 day moving average is $196.10. The Hanover Insurance Group has a 12 month low of $166.54 and a 12 month high of $236.07.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.84 by $1.47. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.35 EPS. On average, sell-side analysts anticipate that The Hanover Insurance Group will post 20.17 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $3.80 annualized dividend and a dividend yield of 1.7%. The Hanover Insurance Group’s payout ratio is presently 18.14%.

The Hanover Insurance Group declared that its Board of Directors has approved a stock buyback program on Wednesday, May 13th that allows the company to buyback $700.00 million in shares. This buyback authorization allows the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Dennis Francis Kerrigan sold 6,551 shares of The Hanover Insurance Group stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the completion of the sale, the executive vice president directly owned 12,003 shares in the company, valued at $2,650,142.37. The trade was a 35.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jane D. Carlin sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the completion of the transaction, the director directly owned 2,270 shares of the company’s stock, valued at approximately $525,505. This represents a 30.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 9,655 shares of company stock worth $2,145,846. 2.80% of the stock is owned by company insiders.

Institutional Trading of The Hanover Insurance Group

A number of hedge funds have recently made changes to their positions in THG. Basecamp Wealth Advisors LLC increased its stake in The Hanover Insurance Group by 19.1% in the first quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 55 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in The Hanover Insurance Group by 5.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider’s stock worth $195,000 after purchasing an additional 59 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of The Hanover Insurance Group by 3.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider’s stock worth $344,000 after purchasing an additional 64 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of The Hanover Insurance Group by 3.4% in the 4th quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 66 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of The Hanover Insurance Group by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider’s stock valued at $2,183,000 after purchasing an additional 66 shares during the last quarter. 86.61% of the stock is owned by institutional investors.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.