The Hanover Insurance Group (NYSE:THG) Stock Price Expected to Rise, JMP Securities Analyst Says

The Hanover Insurance Group (NYSE:THG) had its price target lifted by investment analysts at JMP Securities from $175.00 to $185.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the insurance provider’s stock. JMP Securities’ price target indicates a potential upside of 8.66% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley lifted 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 report on Thursday, February 6th. Barclays upgraded shares of The Hanover Insurance Group to a “hold” rating in a research note on Friday, January 24th. StockNews.com upgraded shares of The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Keefe, Bruyette & Woods decreased their target price on The Hanover Insurance Group from $179.00 to $171.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. Finally, Piper Sandler lifted their price target on The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, The Hanover Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $179.25.

The Hanover Insurance Group Stock Performance

NYSE THG opened at $170.25 on Thursday. The firm has a market capitalization of $6.12 billion, a P/E ratio of 14.56 and a beta of 0.47. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average price is $165.45 and its two-hundred day moving average price is $159.77. The Hanover Insurance Group has a 1 year low of $119.66 and a 1 year high of $176.16.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.29. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.55 billion. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. The Hanover Insurance Group’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $3.08 EPS. As a group, research analysts anticipate that The Hanover Insurance Group will post 14.37 EPS for the current year.

Insider Buying and Selling at The Hanover Insurance Group

In related news, CEO John C. Roche sold 200 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $175.01, for a total value of $35,002.00. Following the transaction, the chief executive officer now directly owns 124,278 shares of the company’s stock, valued at $21,749,892.78. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of The Hanover Insurance Group during the 4th quarter worth $67,928,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of The Hanover Insurance Group in the first quarter worth about $64,340,000. Franklin Resources Inc. boosted its stake in shares of The Hanover Insurance Group by 28.6% in the 4th quarter. Franklin Resources Inc. now owns 1,217,919 shares of the insurance provider’s stock valued at $188,363,000 after purchasing an additional 270,491 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in shares of The Hanover Insurance Group during the 4th quarter valued at approximately $21,797,000. Finally, American Century Companies Inc. increased its position in The Hanover Insurance Group by 15.7% during the 4th quarter. American Century Companies Inc. now owns 958,858 shares of the insurance provider’s stock worth $148,297,000 after purchasing an additional 130,054 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

About The Hanover Insurance Group

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.