The Hanover Insurance Group (NYSE:THG) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

The Hanover Insurance Group (NYSE:THG) had its price objective upped by stock analysts at Keefe, Bruyette & Woods from $220.00 to $222.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 3.96% from the stock’s previous close.

A number of other brokerages have also issued reports on THG. Morgan Stanley lifted their target price on The Hanover Insurance Group from $220.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Citizens Jmp lifted their price objective on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, July 30th. BMO Capital Markets downgraded The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $194.00 to $203.00 in a research note on Tuesday, May 19th. Finally, Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $223.57.

The Hanover Insurance Group Stock Performance

Shares of THG stock opened at $231.15 on Thursday. The stock has a fifty day moving average price of $208.99 and a 200 day moving average price of $189.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market cap of $8.05 billion, a PE ratio of 11.04 and a beta of 0.27. The Hanover Insurance Group has a 1 year low of $165.50 and a 1 year high of $236.07.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the firm earned $4.35 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. Sell-side analysts forecast that The Hanover Insurance Group will post 19.45 earnings per share for the current fiscal year.

The Hanover Insurance Group declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 13th that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 10.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at The Hanover Insurance Group

In other news, CEO John C. Roche sold 8,358 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.74, for a total transaction of $1,619,278.92. Following the sale, the chief executive officer owned 141,011 shares in the company, valued at $27,319,471.14. This represents a 5.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jane D. Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total value of $231,500.00. Following the transaction, the director owned 2,270 shares of the company’s stock, valued at $525,505. This represents a 30.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,108 shares of company stock valued at $5,295,251 in the last three months. 2.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Several large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at about $83,817,000. Alliancebernstein L.P. boosted its stake in shares of 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 buying an additional 339,896 shares during the last quarter. AQR Capital Management LLC grew its position in The Hanover Insurance Group by 37.8% during the third quarter. AQR Capital Management LLC now owns 763,431 shares of the insurance provider’s stock valued at $137,967,000 after buying an additional 209,616 shares during the period. Invesco Ltd. raised its position in The Hanover Insurance Group by 44.1% in the fourth quarter. Invesco Ltd. now owns 646,910 shares of the insurance provider’s stock worth $118,236,000 after acquiring an additional 197,930 shares during the period. Finally, Balyasny Asset Management L.P. grew its position in shares of 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 acquiring an additional 196,655 shares during the period. Institutional investors own 86.61% of the company’s stock.

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.