BMO Capital Markets Issues Positive Forecast for The Hanover Insurance Group (NYSE:THG) Stock Price

The Hanover Insurance Group (NYSE:THG) had its target price hoisted by equities research analysts at BMO Capital Markets from $161.00 to $180.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 19.92% from the company’s current price.

THG has been the subject of several other reports. Janney Montgomery Scott downgraded The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target for the company. in a report on Thursday, November 21st. Piper Sandler raised their price objective on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods lifted their target price on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Oppenheimer increased their price target on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Bank of America raised their price target on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

The Hanover Insurance Group Trading Down 1.3 %

NYSE THG opened at $150.10 on Thursday. The Hanover Insurance Group has a twelve month low of $119.36 and a twelve month high of $166.13. The firm has a market capitalization of $5.41 billion, a PE ratio of 14.89 and a beta of 0.71. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average is $156.45 and its 200 day moving average is $142.74.

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

Insider Activity at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 12,000 shares of The Hanover Insurance Group 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 transaction, the executive vice president now owns 66,091 shares in the company, valued at $10,249,392.28. This trade represents a 15.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 29,051 shares of company stock worth $4,556,803. 2.40% of the stock is owned by insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of THG. Massachusetts Financial Services Co. MA raised its position in shares of The Hanover Insurance Group by 10.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider’s stock valued at $219,883,000 after purchasing an additional 143,339 shares during the period. State Street Corp raised its holdings in The Hanover Insurance Group by 0.3% during the third quarter. State Street Corp now owns 1,239,701 shares of the insurance provider’s stock valued at $183,612,000 after acquiring an additional 3,780 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of The Hanover Insurance Group by 0.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 997,011 shares of the insurance provider’s stock valued at $147,667,000 after acquiring an additional 4,717 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of The Hanover Insurance Group by 4.3% in the second quarter. American Century Companies Inc. now owns 802,033 shares of the insurance provider’s stock worth $100,607,000 after acquiring an additional 33,249 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of The Hanover Insurance Group by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 798,109 shares of the insurance provider’s stock worth $100,111,000 after purchasing an additional 30,536 shares in the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

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.