The Hanover Insurance Group (NYSE:THG) Given New $207.00 Price Target at Keefe, Bruyette & Woods

The Hanover Insurance Group (NYSE:THG) had its price objective raised by Keefe, Bruyette & Woods from $200.00 to $207.00 in a research note released on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

A number of other research analysts have also issued reports on the stock. Royal Bank Of Canada began coverage on shares of The Hanover Insurance Group in a research note on Monday, November 24th. They set a “sector perform” rating and a $200.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of The Hanover Insurance Group in a report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.40.

The Hanover Insurance Group Price Performance

Shares of THG opened at $171.29 on Monday. The Hanover Insurance Group has a 12 month low of $147.76 and a 12 month high of $188.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.43 and a quick ratio of 0.42. The stock has a fifty day moving average price of $177.87 and a 200 day moving average price of $176.66. The company has a market cap of $6.09 billion, a P/E ratio of 9.43 and a beta of 0.32.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Tuesday, February 3rd. The insurance provider reported $5.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.20 by $0.59. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.52 billion. The Hanover Insurance Group had a net margin of 10.05% and a return on equity of 21.00%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.32 earnings per share. On average, research analysts forecast that The Hanover Insurance Group will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.2%. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, December 12th. The Hanover Insurance Group’s payout ratio is currently 20.91%.

Insider Transactions at The Hanover Insurance Group

In related news, EVP Denise Lowsley sold 1,619 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $181.47, for a total transaction of $293,799.93. Following the completion of the sale, the executive vice president directly owned 3,511 shares of the company’s stock, valued at $637,141.17. This represents a 31.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard W. Lavey sold 24,420 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $178.92, for a total transaction of $4,369,226.40. Following the completion of the transaction, the executive vice president owned 32,174 shares in the company, valued at approximately $5,756,572.08. This trade represents a 43.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of hedge funds have recently modified their holdings of THG. Norges Bank purchased a new stake in The Hanover Insurance Group during the second quarter valued at about $77,169,000. Alliancebernstein L.P. boosted its stake in The Hanover Insurance Group by 36.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock worth $217,505,000 after purchasing an additional 339,896 shares during the period. AQR Capital Management LLC grew its position in The Hanover Insurance Group by 37.8% during the 3rd quarter. AQR Capital Management LLC now owns 763,431 shares of the insurance provider’s stock worth $137,967,000 after purchasing an additional 209,616 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in The Hanover Insurance Group by 206.0% during the 3rd quarter. Balyasny Asset Management L.P. now owns 292,121 shares of the insurance provider’s stock valued at $53,058,000 after purchasing an additional 196,655 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of The Hanover Insurance Group by 52.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 558,000 shares of the insurance provider’s stock valued at $94,787,000 after purchasing an additional 193,000 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

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.