Oppenheimer analyst Michael Phillips raised the firm’s price target on The Hanover to $150 from $135 and keeps an Outperform rating on the shares following the strong Q4 results and 2024 outlook. The firm sees the company meaningfully growing earnings and ROEs on catastrophe loss mean-reversion, stable margins in Core Commercial and Specialty, and a steady turnaround in Personal lines throughout 2024, the analyst tells investors in a research note.
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Read More on THG:
- The Hanover Reports Fourth Quarter Net Income and Operating Income of $2.98 and $3.13 per Diluted Share, Respectively; Net and Operating Return on Equity of 18.8% and 15.7%, Respectively
- The Hanover reports Q4 operating EPS $3.13, consensus $2.73
- THG Upcoming Earnings Report: What to Expect?
- The Hanover management to meet virtually with Piper Sandler
- The Hanover Insurance Group, Inc. Increases Quarterly Dividend to $0.85 Per Common Share
