The Hanover Insurance Group (THG) PT Raised to $205 at Citizens on Strong Q1 Beat

Citizens analyst Matthew Carletti raised the price target on The Hanover Insurance Group (NYSE: THG) to $205.00 (from $200.00) while maintaining a Market Outperform rating.

The analyst commented, "We reaffirm our Market Outperform rating and increase our price target to $205 (1.7x estimated forward ex-AOCI book value and ~11x 2027E EPS) from $200 (1.7x our prior estimated forward ex-AOCI book value and ~11x 2027E EPS) on shares of The Hanover Insurance Group following better-than-expected 1Q26 results. Operating EPS of $5.25 handily beat our $4.01 estimate and consensus of $4.22. Versus our estimate, the results reflected a better-thanprojected ex-cat accident year loss ratio (56% vs. 58% est.), favorable PPD ($25 mln vs. $7 mln est.; driven by the Specialty & Personal lines segments), catastrophe losses ($99 mln vs. $108 mln est.), and NII ($127 mln vs. $119 est.), while the expense ratio (31%) was in line. Book value was $102, in line with estimates and +1% from December 31. At a high level, our takeaway from the quarter is further confidence that underlying profitability in all segments remains strong with ex-cat accident year loss ratios remaining favorable and price increases sustaining at levels above loss cost trend, particularly in key liability areas."

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