The Hanover Insurance Group (NYSE:THG) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of The Hanover Insurance Group (NYSE:THG - Get Free Report) in a research note issued to investors on Thursday, Marketbeat reports. The firm set an "equal weight" rating and a $170.00 price target on the insurance provider's stock. Morgan Stanley's target price points to a potential upside of 3.49% from the stock's current price.

Several other research firms have also issued reports on THG. Piper Sandler raised their price objective on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods increased their price target on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, November 7th. Janney Montgomery Scott downgraded The Hanover Insurance Group from a "buy" rating to a "neutral" rating and set a $176.00 price target on the stock. in a report on Thursday, November 21st. JMP Securities increased their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a "market outperform" rating in a report on Thursday, October 31st. Finally, Bank of America increased their price target on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $173.29.

The Hanover Insurance Group Price Performance

The Hanover Insurance Group stock traded up $0.11 during midday trading on Thursday, reaching $164.26. 127,882 shares of the stock traded hands, compared to its average volume of 174,993. The stock's fifty day moving average is $154.67 and its 200-day moving average is $141.09. The Hanover Insurance Group has a 12 month low of $119.36 and a 12 month high of $166.13. The stock has a market cap of $5.92 billion, a P/E ratio of 16.29 and a beta of 0.71. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.40. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The firm's revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share. As a group, equities research analysts anticipate that The Hanover Insurance Group will post 11.43 EPS for the current year.

Insider Activity

In other news, EVP Jeffrey M. Farber sold 300 shares of The Hanover Insurance Group stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $150.00, for a total value of $45,000.00. Following the transaction, the executive vice president now directly owns 89,733 shares in the company, valued at approximately $13,459,950. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 30,551 shares of company stock worth $4,781,935. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its position in shares of The Hanover Insurance Group by 10.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider's stock worth $219,883,000 after purchasing an additional 143,339 shares in the last quarter. State Street Corp raised its stake in shares of The Hanover Insurance Group by 0.3% during the 3rd quarter. State Street Corp now owns 1,239,701 shares of the insurance provider's stock valued at $183,612,000 after buying an additional 3,780 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of The Hanover Insurance Group by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 997,011 shares of the insurance provider's stock valued at $147,667,000 after buying an additional 4,717 shares during the last quarter. American Century Companies Inc. raised its stake in shares of The Hanover Insurance Group by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 802,033 shares of the insurance provider's stock valued at $100,607,000 after buying an additional 33,249 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of The Hanover Insurance Group by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 798,109 shares of the insurance provider's stock valued at $100,111,000 after purchasing an additional 30,536 shares in the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

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.