Oppenheimer Raises The Hanover Insurance Group (NYSE:THG) Price Target to $177.00

The Hanover Insurance Group (NYSE:THG) had its price target lifted by stock analysts at Oppenheimer from $165.00 to $177.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Oppenheimer’s price objective points to a potential upside of 19.68% from the stock’s previous close.

A number of other research firms have also recently commented on THG. Keefe, Bruyette & Woods boosted their price target on The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. JMP Securities increased their target price on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a report on Thursday. Piper Sandler raised their price target on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Bank of America upped their price objective on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.20.

The Hanover Insurance Group Trading Down 0.3 %

Shares of The Hanover Insurance Group stock opened at $147.90 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The Hanover Insurance Group has a 12-month low of $112.22 and a 12-month high of $155.84. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 14.67 and a beta of 0.69. The firm’s 50-day moving average price is $147.58 and its two-hundred day moving average price is $136.46.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.40. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 16.09%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm posted $0.19 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, analysts forecast that The Hanover Insurance Group will post 10.92 earnings per share for the current fiscal year.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Kathy S. Lane sold 1,884 shares of The Hanover Insurance Group stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total transaction of $252,889.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other The Hanover Insurance Group news, Director Kathy S. Lane sold 1,884 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total transaction of $252,889.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey M. Farber sold 12,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the completion of the sale, the executive vice president now directly owns 66,091 shares in the company, valued at approximately $10,249,392.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,303 shares of company stock worth $4,372,203. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its stake in The Hanover Insurance Group by 5.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,341,253 shares of the insurance provider’s stock worth $168,247,000 after purchasing an additional 70,161 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of The Hanover Insurance Group by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 997,011 shares of the insurance provider’s stock worth $147,667,000 after buying an additional 4,717 shares during the period. American Century Companies Inc. increased its stake in shares of The Hanover Insurance Group by 4.3% in the 2nd quarter. American Century Companies Inc. now owns 802,033 shares of the insurance provider’s stock valued at $100,607,000 after acquiring an additional 33,249 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of The Hanover Insurance Group by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 798,109 shares of the insurance provider’s stock valued at $100,111,000 after acquiring an additional 30,536 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of The Hanover Insurance Group by 14,711.0% during the 3rd quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider’s stock valued at $81,823,000 after acquiring an additional 548,720 shares during the period. 86.61% of the stock is 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.