The Hanover Insurance Group (NYSE:THG) Given New $200.00 Price Target at Keefe, Bruyette & Woods

The Hanover Insurance Group (NYSE:THG) had its price objective lifted by Keefe, Bruyette & Woods from $198.00 to $200.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the insurance provider’s stock.

A number of other research firms have also recently commented on THG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The Hanover Insurance Group in a research note on Wednesday, October 8th. JMP Securities set a $205.00 target price on The Hanover Insurance Group in a research note on Thursday, July 31st. Morgan Stanley upped their target price on The Hanover Insurance Group from $185.00 to $190.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Finally, Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, The Hanover Insurance Group has an average rating of “Moderate Buy” and a consensus target price of $191.83.

The Hanover Insurance Group Trading Up 2.7%

Shares of THG stock opened at $175.36 on Tuesday. The company has a market cap of $6.27 billion, a PE ratio of 10.14 and a beta of 0.44. The stock’s 50 day simple moving average is $176.31 and its two-hundred day simple moving average is $171.07. The Hanover Insurance Group has a 1 year low of $145.17 and a 1 year high of $186.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.37 and a quick ratio of 0.37.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, October 29th. The insurance provider reported $5.09 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $1.30. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.72 billion. The Hanover Insurance Group had a return on equity of 22.43% and a net margin of 9.71%.The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 earnings per share. Research analysts predict that The Hanover Insurance Group will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a $0.90 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.60 annualized dividend and a yield of 2.1%. The Hanover Insurance Group’s dividend payout ratio is 20.82%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new position in The Hanover Insurance Group in the third quarter worth approximately $149,000. AGF Management Ltd. boosted its position in The Hanover Insurance Group by 3.6% during the 3rd quarter. AGF Management Ltd. now owns 18,618 shares of the insurance provider’s stock valued at $3,382,000 after acquiring an additional 642 shares in the last quarter. State of Wyoming boosted its position in The Hanover Insurance Group by 302.3% during the 3rd quarter. State of Wyoming now owns 1,424 shares of the insurance provider’s stock valued at $259,000 after acquiring an additional 1,070 shares in the last quarter. Everhart Financial Group Inc. boosted its position in The Hanover Insurance Group by 8.1% during the 3rd quarter. Everhart Financial Group Inc. now owns 4,311 shares of the insurance provider’s stock valued at $783,000 after acquiring an additional 323 shares in the last quarter. Finally, AlphaQuest LLC boosted its position in The Hanover Insurance Group by 563.1% during the 3rd quarter. AlphaQuest LLC now owns 13,296 shares of the insurance provider’s stock valued at $2,415,000 after acquiring an additional 11,291 shares in the last quarter. 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.