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

The Hanover Insurance Group (NYSE:THG) had its price target boosted by analysts at BMO Capital Markets from $161.00 to $180.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 16.94% from the stock’s current price.

THG has been the topic of a number of other research reports. Morgan Stanley assumed coverage on The Hanover Insurance Group in a research report on Thursday, December 5th. They set an “equal weight” rating and a $170.00 price objective on the stock. Janney Montgomery Scott downgraded The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target on the stock. in a report on Thursday, November 21st. JMP Securities lifted their price objective on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Bank of America upped their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Piper Sandler lifted their price target on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

The Hanover Insurance Group Stock Performance

Shares of The Hanover Insurance Group stock opened at $153.93 on Thursday. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 15.27 and a beta of 0.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50-day moving average of $156.70 and a 200 day moving average of $142.98. The Hanover Insurance Group has a 12 month low of $119.36 and a 12 month high of $166.13.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, beating the consensus estimate of $2.65 by $0.40. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Hanover Insurance Group will post 11.41 earnings per share for the current year.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 4,800 shares of The Hanover Insurance Group stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $150.41, for a total transaction of $721,968.00. Following the sale, the executive vice president now owns 80,790 shares in the company, valued at approximately $12,151,623.90. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 29,051 shares of company stock worth $4,556,803. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in shares of The Hanover Insurance Group in the second quarter valued at approximately $25,000. True Wealth Design LLC acquired a new stake in The Hanover Insurance Group during the 3rd quarter worth $25,000. V Square Quantitative Management LLC purchased a new position in The Hanover Insurance Group during the 3rd quarter worth $26,000. Wilmington Savings Fund Society FSB acquired a new position in The Hanover Insurance Group in the third quarter valued at $30,000. Finally, 1620 Investment Advisors Inc. acquired a new position in The Hanover Insurance Group in the second quarter valued at $42,000. Institutional investors and hedge funds 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.