Citizens Jmp Issues Positive Forecast for The Hanover Insurance Group (NYSE:THG) Stock Price

The Hanover Insurance Group (NYSE:THG) had its target price upped by Citizens Jmp from $205.00 to $225.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a market outperform rating on the insurance provider’s stock.

Several other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $220.00 price objective (up from $211.00) on shares of The Hanover Insurance Group in a research report on Wednesday. Oppenheimer upped their price target on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Royal Bank Of Canada raised their price objective on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Zacks Research downgraded The Hanover Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Piper Sandler upped their price target on shares of The Hanover Insurance Group from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.43.

The Hanover Insurance Group Stock Performance

Shares of THG traded down $0.40 during mid-day trading on Friday, reaching $213.94. The company’s stock had a trading volume of 267,246 shares, compared to its average volume of 323,827. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group has a 1-year low of $162.66 and a 1-year high of $225.29. The business has a 50-day simple moving average of $198.76 and a two-hundred day simple moving average of $183.87. The stock has a market cap of $7.49 billion, a P/E ratio of 10.77 and a beta of 0.28.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.14 by $1.11. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the business earned $3.87 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that The Hanover Insurance Group will post 18.38 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group’s payout ratio is currently 19.12%.

The Hanover Insurance Group declared that its Board of Directors 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 reacquire up to 10.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at The Hanover Insurance Group

In related news, EVP Denise Lowsley sold 4,175 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $191.73, for a total transaction of $800,472.75. Following the transaction, the executive vice president directly owned 3,883 shares of the company’s stock, valued at $744,487.59. This represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cynthia Egan sold 3,400 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $188.50, for a total transaction of $640,900.00. Following the transaction, the director owned 9,359 shares in the company, valued at $1,764,171.50. This represents a 26.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 29,508 shares of company stock worth $5,704,651. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Hedge funds have recently added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new position in shares of The Hanover Insurance Group in the 3rd quarter worth $26,000. Community Bank N.A. bought a new stake in The Hanover Insurance Group during the 3rd quarter valued at $27,000. McMillan Office Inc. acquired a new position in The Hanover Insurance Group during the fourth quarter worth $31,000. Entrust Financial LLC bought a new position in shares of The Hanover Insurance Group in the fourth quarter valued at $33,000. Finally, Root Financial Partners LLC lifted its stake in shares of The Hanover Insurance Group by 69.3% in the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock valued at $41,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds 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.