Keefe, Bruyette & Woods Boosts The Hanover Insurance Group (NYSE:THG) Price Target to $222.00

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

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada boosted their price target on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Zacks Research lowered The Hanover Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Citizens Jmp lifted their price target on The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 29th. Oppenheimer increased their price objective 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. Finally, Morgan Stanley boosted their target price on shares of The Hanover Insurance Group from $220.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $223.57.

The Hanover Insurance Group Price Performance

NYSE:THG opened at $231.15 on Thursday. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 11.04 and a beta of 0.27. 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 fifty day moving average of $208.99 and a 200 day moving average of $189.06. The Hanover Insurance Group has a 52-week low of $165.50 and a 52-week high of $236.07.

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

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

Insiders Place Their Bets

In other news, CEO John C. Roche sold 8,358 shares of The Hanover Insurance Group stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.74, for a total value of $1,619,278.92. Following the completion of the transaction, the chief executive officer owned 141,011 shares in the company, valued at approximately $27,319,471.14. The trade was a 5.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Francisco Aristeguieta sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $195.37, for a total transaction of $195,370.00. Following the completion of the sale, the director directly owned 4,053 shares of the company’s stock, valued at approximately $791,834.61. The trade was a 19.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 27,108 shares of company stock worth $5,295,251. Insiders own 2.80% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

A number of institutional investors have recently bought and sold shares of the stock. JPL Wealth Management LLC purchased a new stake in shares of The Hanover Insurance Group in the third quarter valued at approximately $26,000. McMillan Office Inc. acquired a new stake in shares of The Hanover Insurance Group in the fourth quarter worth approximately $31,000. Entrust Financial LLC purchased a new stake in shares of The Hanover Insurance Group during the fourth quarter worth approximately $33,000. Root Financial Partners LLC raised its stake in The Hanover Insurance Group by 69.3% in the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 97 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in The Hanover Insurance Group by 146.2% in the 4th quarter. IFP Advisors Inc now owns 256 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 152 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.