Piper Sandler Raises Hanover Insurance Group PT to $143.00
November 8, 2023
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Hanover Insurance ($NYSE:THG) Group is a large, diversified insurer based in Massachusetts that offers a wide range of products and services to its customers. It operates through four main segments, including personal lines, commercial lines, speciality lines and bonds, in the United States. The company provides personal lines insurance to individuals and families, as well as commercial lines insurance to small and midsize businesses.
Additionally, it offers specialty lines insurance, such as surety bonds, excess liability coverage and excess workers’ compensation coverage. Its strong financial strength ratings, diverse product portfolio and extensive regional footprint make it one of the most respected companies in the industry.
Share Price
On Monday, Piper Sandler raised the price target of Hanover Insurance Group (HANOVER INSURANCE) to $143.00. The stock opened at $117.2 and closed at $117.1, up by 0.4% from the previous closing price of 116.6. Analysts are bullish on the stock and believe it has potential for further growth in the near future.
The company is well-known for offering a wide variety of insurance policies, including property and casualty, business, commercial, and life insurance. It also has an extensive network of agents and brokers, and its operations are spread across the United States, Canada, and the U.K. Investors should consider this new price target when making their investment decisions. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Hanover Insurance. More…
| Total Revenues | Net Income | Net Margin |
| 5.94k | -84.2 | -1.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Hanover Insurance. More…
| Operations | Investing | Financing |
| 557.9 | -507.6 | -140.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Hanover Insurance. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 14.31k | 12.2k | 62.51 |
Key Ratios Snapshot
Some of the financial key ratios for Hanover Insurance are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.5% | – | -1.5% |
| FCF Margin | ROE | ROA |
| 9.1% | -2.5% | -0.4% |
Analysis
As a financial analyst, I have evaluated the financials of HANOVER INSURANCE using GoodWhale. According to our Star Chart, HANOVER INSURANCE is given an intermediate health score of 6/10, indicating that it has sufficient cashflows and debt to safely ride out any crisis without the risk of bankruptcy. Looking deeper at its financials, HANOVER INSURANCE is strong in dividend, medium in growth and weak in asset, profitability. Based on this analysis, we have classified HANOVER INSURANCE as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. HANOVER INSURANCE may be attractive to investors looking for stable returns from dividend payments or those looking for modest capital appreciation. More…
Peers
The Hanover Insurance Group Inc competes with Global Indemnity Group LLC, Mercury General Corp, American Financial Group Inc, in the insurance market. The company’s main competitors areGlobal Indemnity Group LLC, Mercury General Corp, and American Financial Group Inc.
– Global Indemnity Group LLC ($NYSE:GBLI)
Global Indemnity Group LLC is a provider of insurance products and services. The company offers a range of insurance products, including property and casualty, professional liability, and surety. Global Indemnity Group LLC has a market cap of 307.69M as of 2022, a Return on Equity of -0.24%. The company was founded in 2001 and is headquartered in Wilmington, Delaware.
– Mercury General Corp ($NYSE:MCY)
Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. The company was founded in 1961 and is based in Los Angeles, California. Mercury General Corporation operates as a subsidiary of KGI Insurance Agency, Inc.
– American Financial Group Inc ($NYSE:AFG)
American Financial Group Inc. is a holding company that engages in the property and casualty insurance businesses. The company has a market cap of $10.85 billion and a return on equity of 19.27%. American Financial Group’s main subsidiaries are Great American Insurance Company and National Interstate Corporation. Great American Insurance Company is a property and casualty insurer that specializes in writing excess and surplus lines insurance, while National Interstate Corporation is a specialty property and casualty insurance company.
Summary
Piper Sandler recently upgraded its rating of Hanover Insurance Group from Neutral to Overweight. Analysts cite the company’s strong balance sheet, dividend yield, and valuation metrics as reasons for the upgrade. Hanover Insurance Group has seen an increase in both its net income and operating cash flow over the past year. Investors are optimistic that the upgrade will lead to appreciation in share price in the coming quarters.
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