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

The Hanover Insurance Group, Inc. (NYSE:THG) reached a new 52-week high on Monday . The company traded as high as $156.80 and last traded at $156.80, with a volume of 227 shares traded. The stock had previously closed at $155.21.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Bank of America raised their target price on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Piper Sandler increased their price target on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods raised 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 report on Tuesday, August 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $160.00 price objective on shares of The Hanover Insurance Group in a report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $160.20.

The Hanover Insurance Group Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.40 and a current ratio of 0.40. The stock’s 50-day moving average is $145.29 and its two-hundred day moving average is $135.46. The stock has a market cap of $5.42 billion, a PE ratio of 33.82 and a beta of 0.69.

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

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, September 13th. The Hanover Insurance Group’s payout ratio is 76.23%.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Kathy S. Lane sold 1,884 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other The Hanover Insurance Group news, Director Kathy S. Lane sold 1,884 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total transaction of $252,889.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey M. Farber sold 12,000 shares of The Hanover Insurance Group stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $155.08, for a total value of $1,860,960.00. Following the completion of the transaction, the executive vice president now owns 66,091 shares of the company’s stock, valued at $10,249,392.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,303 shares of company stock worth $4,372,203. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. lifted its position in shares of The Hanover Insurance Group by 2.0% during the 3rd quarter. Lecap Asset Management Ltd. now owns 4,202 shares of the insurance provider’s stock worth $622,000 after purchasing an additional 84 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of The Hanover Insurance Group by 4.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,227 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 97 shares during the last quarter. Signaturefd LLC raised its position in shares of The Hanover Insurance Group by 8.7% during the 2nd quarter. Signaturefd LLC now owns 1,336 shares of the insurance provider’s stock worth $168,000 after acquiring an additional 107 shares in the last quarter. UMB Bank n.a. raised its position in shares of The Hanover Insurance Group by 35.4% during the 3rd quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock worth $62,000 after acquiring an additional 109 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in The Hanover Insurance Group by 20.7% during the second quarter. Blue Trust Inc. now owns 753 shares of the insurance provider’s stock worth $103,000 after purchasing an additional 129 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

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.