Buckingham Research Boosts Hanover Insurance Group (NYSE:THG) Price Target to $145.00

Hanover Insurance Group (NYSE:THG) had its price objective lifted by equities researchers at Buckingham Research from $142.00 to $145.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the insurance provider’s stock. Buckingham Research’s target price points to a potential upside of 4.59% from the company’s previous close.

A number of other analysts have also recently weighed in on THG. ValuEngine cut Hanover Insurance Group from a “hold” rating to a “sell” rating in a research report on Friday, January 10th. Zacks Investment Research raised shares of Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $151.00 target price on the stock in a report on Wednesday, October 16th.

NYSE:THG opened at $138.63 on Wednesday. The stock’s 50-day moving average is $137.07 and its two-hundred day moving average is $133.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. Hanover Insurance Group has a fifty-two week low of $107.39 and a fifty-two week high of $140.00. The stock has a market cap of $5.49 billion, a PE ratio of 13.08 and a beta of 0.54.

Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.22. Hanover Insurance Group had a return on equity of 10.62% and a net margin of 9.27%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company earned $2.33 earnings per share. On average, equities research analysts anticipate that Hanover Insurance Group will post 8.11 earnings per share for the current year.

In other Hanover Insurance Group news, EVP Bryan J. Salvatore sold 634 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $135.95, for a total transaction of $86,192.30. Following the sale, the executive vice president now directly owns 6,728 shares of the company’s stock, valued at $914,671.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.65% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of THG. Vanguard Group Inc. grew its stake in shares of Hanover Insurance Group by 2.8% during the second quarter. Vanguard Group Inc. now owns 4,439,819 shares of the insurance provider’s stock valued at $569,628,000 after purchasing an additional 121,714 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Hanover Insurance Group by 2.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 838,987 shares of the insurance provider’s stock valued at $113,716,000 after buying an additional 17,108 shares during the period. Macquarie Group Ltd. increased its stake in shares of Hanover Insurance Group by 14.5% in the 2nd quarter. Macquarie Group Ltd. now owns 735,895 shares of the insurance provider’s stock valued at $94,415,000 after buying an additional 93,209 shares during the period. Millennium Management LLC increased its stake in shares of Hanover Insurance Group by 45.0% in the 3rd quarter. Millennium Management LLC now owns 217,470 shares of the insurance provider’s stock valued at $29,475,000 after buying an additional 67,470 shares during the period. Finally, Nuveen Asset Management LLC bought a new stake in shares of Hanover Insurance Group during the second quarter worth $25,966,000. 84.57% of the stock is currently owned by hedge funds and other institutional investors.

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 in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.

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