The Hanover Insurance Group (NYSE:THG) Stock Price Expected to Rise, Morgan Stanley Analyst Says

The Hanover Insurance Group (NYSE:THG) had its price objective raised by equities research analysts at Morgan Stanley from $163.00 to $170.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 0.63% from the stock’s previous close.

A number of other brokerages have also commented on THG. Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a research report on Friday, January 24th. StockNews.com upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 30th. Piper Sandler upped their target price on The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods raised their price target on The Hanover Insurance Group from $171.00 to $173.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. Finally, JMP Securities upped their price objective on The Hanover Insurance Group from $175.00 to $185.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.50.

The Hanover Insurance Group Stock Up 0.3%

Shares of THG stock traded up $0.56 during trading hours on Monday, hitting $168.93. 7,423 shares of the company were exchanged, compared to its average volume of 207,470. The company has a market capitalization of $6.07 billion, a PE ratio of 14.47 and a beta of 0.44. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.25. The Hanover Insurance Group has a 52 week low of $119.66 and a 52 week high of $176.16. The business has a 50 day moving average of $165.31 and a two-hundred day moving average of $161.00.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.29. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the company posted $3.08 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that The Hanover Insurance Group will post 14.37 earnings per share for the current fiscal year.

Insider Buying and Selling at The Hanover Insurance Group

In other news, EVP Bryan J. Salvatore sold 10,526 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total transaction of $1,753,631.60. Following the transaction, the executive vice president now owns 25,864 shares in the company, valued at approximately $4,308,942.40. This trade represents a 28.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Roche sold 301 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $175.00, for a total value of $52,675.00. Following the completion of the transaction, the chief executive officer now directly owns 124,414 shares in the company, valued at approximately $21,772,450. This represents a 0.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,027 shares of company stock valued at $1,841,309 in the last three months. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of The Hanover Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of THG. Barclays PLC raised its position in shares of The Hanover Insurance Group by 61.5% in the third quarter. Barclays PLC now owns 27,155 shares of the insurance provider’s stock valued at $4,022,000 after buying an additional 10,341 shares in the last quarter. Congress Asset Management Co. lifted its position in shares of The Hanover Insurance Group by 42.5% during the 4th quarter. Congress Asset Management Co. now owns 46,091 shares of the insurance provider’s stock valued at $7,128,000 after acquiring an additional 13,750 shares during the period. Hodges Capital Management Inc. grew its holdings in shares of The Hanover Insurance Group by 48.8% during the 4th quarter. Hodges Capital Management Inc. now owns 76,503 shares of the insurance provider’s stock worth $11,832,000 after purchasing an additional 25,089 shares in the last quarter. Bank of New York Mellon Corp raised its stake in The Hanover Insurance Group by 7.5% in the fourth quarter. Bank of New York Mellon Corp now owns 349,125 shares of the insurance provider’s stock valued at $53,996,000 after purchasing an additional 24,290 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in The Hanover Insurance Group in the fourth quarter valued at about $4,903,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

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.