The Hanover Insurance Group (NYSE:THG) Reaches New 12-Month High – Here’s What Happened

The Hanover Insurance Group, Inc. (NYSE:THG) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $151.16 and last traded at $150.96, with a volume of 29156 shares. The stock had previously closed at $147.72.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on THG. JMP Securities reissued a “market outperform” rating and issued a $160.00 target price on shares of The Hanover Insurance Group in a research report on Tuesday. Piper Sandler raised their target price on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Bank of America lifted their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods increased their price target on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $160.20.

The Hanover Insurance Group Trading Up 1.3 %

The company has a fifty day moving average of $142.83 and a two-hundred day moving average of $134.63. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 33.57 and a beta of 0.69.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, hitting the consensus estimate of $1.88. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the business earned ($1.91) EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, research analysts expect that The Hanover Insurance Group, Inc. will post 10.99 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.27%. The ex-dividend date was Friday, September 13th. The Hanover Insurance Group’s payout ratio is 76.23%.

Insider Activity

In other The Hanover Insurance Group news, SVP Warren E. Barnes sold 500 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $138.25, for a total value of $69,125.00. Following the completion of the sale, the senior vice president now owns 3,013 shares of the company’s stock, valued at approximately $416,547.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kathy S. Lane sold 1,884 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total value of $252,889.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Warren E. Barnes sold 500 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $138.25, for a total value of $69,125.00. Following the sale, the senior vice president now owns 3,013 shares in the company, valued at approximately $416,547.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,352 shares of company stock valued at $1,766,623 in the last three months. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in THG. Quarry LP acquired a new stake in The Hanover Insurance Group in the 4th quarter valued at about $34,000. Congress Asset Management Co. MA grew its position in shares of The Hanover Insurance Group by 46.9% in the fourth quarter. Congress Asset Management Co. MA now owns 29,206 shares of the insurance provider’s stock valued at $3,546,000 after purchasing an additional 9,327 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of The Hanover Insurance Group by 149.4% during the 4th quarter. Wellington Management Group LLP now owns 417,767 shares of the insurance provider’s stock worth $50,725,000 after purchasing an additional 250,254 shares in the last quarter. Vanguard Group Inc. raised its position in shares of The Hanover Insurance Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,623,766 shares of the insurance provider’s stock worth $439,998,000 after purchasing an additional 13,030 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in The Hanover Insurance Group in the 4th quarter valued at approximately $247,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

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.