The Hanover Insurance Group (NYSE:THG) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of The Hanover Insurance Group (NYSE:THG) in a research report sent to investors on Monday, Benzinga reports. They currently have a $150.00 price target on the insurance provider’s stock.

A number of other brokerages have also weighed in on THG. Keefe, Bruyette & Woods upped their target price on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the stock a market perform rating in a research report on Wednesday, April 10th. Piper Sandler reaffirmed an overweight rating and set a $147.00 price target on shares of The Hanover Insurance Group in a research note on Monday, April 1st. StockNews.com raised shares of The Hanover Insurance Group from a hold rating to a buy rating in a research note on Thursday, January 11th. Oppenheimer reissued an outperform rating and issued a $150.00 target price on shares of The Hanover Insurance Group in a research note on Friday, April 5th. Finally, TheStreet raised shares of The Hanover Insurance Group from a c+ rating to a b- rating in a research note on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $140.83.

The Hanover Insurance Group Stock Performance

Shares of NYSE THG opened at $127.21 on Monday. The firm has a 50 day moving average of $131.41 and a 200 day moving average of $124.92. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 135.33 and a beta of 0.67. The Hanover Insurance Group has a 12-month low of $103.82 and a 12-month high of $138.00.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.62. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.56 billion. The Hanover Insurance Group had a net margin of 0.59% and a return on equity of 2.44%. On average, research analysts anticipate that The Hanover Insurance Group will post 10.03 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Thursday, March 14th. The Hanover Insurance Group’s payout ratio is currently 361.70%.

Insider Transactions at The Hanover Insurance Group

In related news, SVP Warren E. Barnes sold 500 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $131.14, for a total value of $65,570.00. Following the completion of the transaction, the senior vice president now directly owns 3,612 shares in the company, valued at approximately $473,677.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC grew its holdings in shares of The Hanover Insurance Group by 11,733.1% in the fourth quarter. International Assets Investment Management LLC now owns 465,039 shares of the insurance provider’s stock valued at $56,465,000 after purchasing an additional 461,109 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of The Hanover Insurance Group by 75.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 965,374 shares of the insurance provider’s stock valued at $117,217,000 after purchasing an additional 414,993 shares during the period. Norges Bank purchased a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at about $48,900,000. Massachusetts Financial Services Co. MA grew its holdings in shares of The Hanover Insurance Group by 27.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,214,520 shares of the insurance provider’s stock valued at $147,467,000 after purchasing an additional 264,483 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of The Hanover Insurance Group by 149.4% in the fourth quarter. Wellington Management Group LLP now owns 417,767 shares of the insurance provider’s stock valued at $50,725,000 after purchasing an additional 250,254 shares during the period. Hedge funds and other institutional investors 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.