Morgan Stanley Initiates Coverage on The Hanover Insurance Group (NYSE:THG)

Equities research analysts at Morgan Stanley initiated coverage on shares of The Hanover Insurance Group (NYSE:THG) in a research note issued to investors on Thursday,Benzinga reports. The brokerage set an “equal weight” rating and a $170.00 price target on the insurance provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 3.56% from the company’s previous close.

Other analysts also recently issued research reports about the company. Bank of America upped their price target on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Oppenheimer upped their price target on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Janney Montgomery Scott downgraded The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target for the company. in a research note on Thursday, November 21st. Piper Sandler upped their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, JMP Securities upped their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and an average target price of $173.29.

The Hanover Insurance Group Stock Up 0.5 %

NYSE:THG opened at $164.15 on Thursday. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 16.28 and a beta of 0.71. The Hanover Insurance Group has a 1-year low of $119.36 and a 1-year high of $166.13. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average price is $154.67 and its 200 day moving average price is $141.09.

The Hanover Insurance Group (NYSE:THG) last issued its 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 Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that The Hanover Insurance Group will post 11.43 earnings per share for the current fiscal year.

Insider Buying and Selling at The Hanover Insurance Group

In related news, EVP Jeffrey M. Farber sold 6,114 shares of The Hanover Insurance Group stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $162.36, for a total transaction of $992,669.04. Following the completion of the transaction, the executive vice president now directly owns 54,091 shares of the company’s stock, valued at $8,782,214.76. This trade represents a 10.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 30,551 shares of company stock valued at $4,781,935 in the last quarter. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

Several large investors have recently added to or reduced their stakes in THG. Point72 Hong Kong Ltd bought a new stake in The Hanover Insurance Group during the second quarter worth about $25,000. True Wealth Design LLC bought a new stake in The Hanover Insurance Group during the third quarter worth about $25,000. V Square Quantitative Management LLC bought a new stake in The Hanover Insurance Group during the third quarter worth about $26,000. Wilmington Savings Fund Society FSB bought a new stake in The Hanover Insurance Group during the third quarter worth about $30,000. Finally, 1620 Investment Advisors Inc. bought a new stake in The Hanover Insurance Group during the second quarter worth about $42,000. 86.61% of the stock is owned by institutional investors.

About The Hanover Insurance Group

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.