Keefe, Bruyette & Woods Increases The Hanover Insurance Group (NYSE:THG) Price Target to $208.00

The Hanover Insurance Group (NYSE:THG) had its price target upped by analysts at Keefe, Bruyette & Woods from $207.00 to $208.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 16.06% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of The Hanover Insurance Group in a report on Wednesday, January 21st. Royal Bank Of Canada assumed coverage on The Hanover Insurance Group in a research note on Monday, November 24th. They issued a “sector perform” rating and a $200.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.60.

The Hanover Insurance Group Price Performance

The Hanover Insurance Group stock opened at $179.22 on Wednesday. The business’s 50-day simple moving average is $175.82 and its 200 day simple moving average is $177.02. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 9.86 and a beta of 0.32. The Hanover Insurance Group has a 12-month low of $147.76 and a 12-month high of $188.18. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 0.24.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Friday, February 20th. The insurance provider reported $5.46 earnings per share for the quarter. The firm had revenue of $1.67 billion during the quarter. The Hanover Insurance Group had a return on equity of 21.00% and a net margin of 10.05%. As a group, research analysts anticipate that The Hanover Insurance Group will post 14.37 earnings per share for the current year.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Richard W. Lavey sold 24,420 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $178.92, for a total value of $4,369,226.40. Following the transaction, the executive vice president owned 32,174 shares of the company’s stock, valued at approximately $5,756,572.08. The trade was a 43.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC raised its stake in shares of The Hanover Insurance Group by 61.0% in the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock valued at $15,371,000 after purchasing an additional 33,495 shares during the period. NewEdge Advisors LLC raised its position in The Hanover Insurance Group by 1,568.9% in the 1st quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock valued at $131,000 after buying an additional 706 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in The Hanover Insurance Group by 21.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock valued at $38,052,000 after acquiring an additional 38,905 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in The Hanover Insurance Group by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock worth $22,445,000 after acquiring an additional 7,712 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new position in The Hanover Insurance Group during the 2nd quarter worth approximately $257,000. 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.