The Hanover Insurance Group (NYSE:THG) Trading 0.7% Higher – Here’s Why

The Hanover Insurance Group, Inc. (NYSE:THG)’s stock price rose 0.7% during mid-day trading on Friday . The stock traded as high as $164.99 and last traded at $163.85. Approximately 15,912 shares changed hands during trading, a decline of 91% from the average daily volume of 173,778 shares. The stock had previously closed at $162.74.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JMP Securities increased their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Bank of America increased 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. Oppenheimer upped their price objective on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods lifted their price objective on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Finally, Janney Montgomery Scott downgraded shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective on the stock. in a report on Thursday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.83.

The Hanover Insurance Group Stock Performance

The business’s 50-day moving average is $151.90 and its 200 day moving average is $139.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $5.91 billion, a PE ratio of 16.29 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last released its quarterly 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 business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the company posted $0.19 EPS. The Hanover Insurance Group’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts predict that The Hanover Insurance Group, Inc. will post 11.29 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.85 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. The Hanover Insurance Group’s dividend payout ratio is currently 33.73%.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 6,114 shares of the firm’s 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 sale, the executive vice president now 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 legal filing with the SEC, which is available through this link. Also, EVP Richard W. Lavey sold 8,468 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $144.01, for a total transaction of $1,219,476.68. Following the transaction, the executive vice president now owns 36,281 shares in the company, valued at approximately $5,224,826.81. This trade represents a 18.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,419 shares of company stock valued at $6,054,037. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd purchased a new stake in shares of The Hanover Insurance Group during the 2nd quarter worth approximately $25,000. True Wealth Design LLC purchased a new position in The Hanover Insurance Group in the 3rd quarter worth about $25,000. V Square Quantitative Management LLC bought a new stake in The Hanover Insurance Group during the 3rd quarter valued at about $26,000. 1620 Investment Advisors Inc. purchased a new stake in The Hanover Insurance Group in the 2nd quarter valued at about $42,000. Finally, GHP Investment Advisors Inc. grew its stake in The Hanover Insurance Group by 64.9% in the 2nd quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 168 shares in the last quarter. 86.61% of the stock is owned by hedge funds and other 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.