The Hanover Insurance Group, Inc. (NYSE:THG) Receives $207.00 Consensus PT from Analysts

The Hanover Insurance Group, Inc. (NYSE:THG) has earned an average rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $207.00.

A number of research firms have recently weighed in on THG. Oppenheimer lifted their target price on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Piper Sandler boosted their price target on The Hanover Insurance Group from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Morgan Stanley set a $195.00 price target on The Hanover Insurance Group in a research note on Friday, May 1st. Royal Bank Of Canada boosted their price target on The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Finally, Weiss Ratings raised The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, May 22nd.

Insiders Place Their Bets

In related news, EVP Denise Lowsley sold 4,175 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $191.73, for a total value of $800,472.75. Following the completion of the transaction, the executive vice president owned 3,883 shares of the company’s stock, valued at $744,487.59. The trade was a 51.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Francisco Aristeguieta sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $195.37, for a total value of $195,370.00. Following the completion of the transaction, the director directly owned 4,053 shares of the company’s stock, valued at approximately $791,834.61. This trade represents a 19.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,508 shares of company stock valued at $5,704,651 over the last 90 days. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC grew its position in The Hanover Insurance Group by 41.9% in the first quarter. Empowered Funds LLC now owns 1,645 shares of the insurance provider’s stock valued at $285,000 after acquiring an additional 486 shares during the last quarter. Western Wealth Management LLC bought a new position in The Hanover Insurance Group in the first quarter valued at about $188,000. Bank of America Corp DE grew its position in The Hanover Insurance Group by 10.1% in the first quarter. Bank of America Corp DE now owns 251,130 shares of the insurance provider’s stock valued at $43,533,000 after acquiring an additional 22,978 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in The Hanover Insurance Group by 5.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider’s stock valued at $195,000 after acquiring an additional 59 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in The Hanover Insurance Group by 30.7% in the first quarter. California State Teachers Retirement System now owns 43,399 shares of the insurance provider’s stock valued at $7,523,000 after acquiring an additional 10,188 shares during the last quarter. Institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Up 0.6%

THG opened at $199.38 on Friday. The Hanover Insurance Group has a fifty-two week low of $160.70 and a fifty-two week high of $201.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $6.98 billion, a P/E ratio of 10.03 and a beta of 0.30. The stock has a fifty day moving average of $187.10 and a 200-day moving average of $180.28.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.14 by $1.11. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm earned $3.87 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts expect that The Hanover Insurance Group will post 18.36 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, June 12th. The Hanover Insurance Group’s payout ratio is 19.12%.

The Hanover Insurance Group declared that its board has approved a share buyback plan on Wednesday, May 13th that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 10.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.