The Hanover Insurance Group (NYSE:THG) Trading 0.4% Higher – Here’s Why

The Hanover Insurance Group, Inc. (NYSE:THG) was up 0.4% during trading on Monday . The stock traded as high as $164.46 and last traded at $164.24. Approximately 122,969 shares changed hands during trading, a decline of 29% from the average daily volume of 174,402 shares. The stock had previously closed at $163.60.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Janney Montgomery Scott cut The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 target price on the stock. in a report on Thursday, November 21st. Piper Sandler raised their price objective on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Oppenheimer boosted their target price 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 raised their price target on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Finally, JMP Securities boosted their price objective 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.83.

The Hanover Insurance Group Stock Up 0.8 %

The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $5.92 billion, a P/E ratio of 16.31 and a beta of 0.70. The stock’s 50-day simple moving average is $152.80 and its 200-day simple moving average is $139.93.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.40. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 EPS. As a group, research analysts predict that The Hanover Insurance Group, Inc. will post 11.43 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

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

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 12,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $155.08, for a total value of $1,860,960.00. Following the completion of the sale, the executive vice president now directly owns 66,091 shares of the company’s stock, valued at $10,249,392.28. This trade represents a 15.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Richard W. Lavey sold 8,468 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $144.01, for a total value of $1,219,476.68. Following the completion of the sale, the executive vice president now owns 36,281 shares in the company, valued at approximately $5,224,826.81. The trade was a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,019 shares of company stock valued at $6,001,412. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Several large investors have recently added to or reduced their stakes in THG. Boston Partners boosted its position in The Hanover Insurance Group by 111.8% during the first quarter. Boston Partners now owns 12,794 shares of the insurance provider’s stock worth $1,739,000 after purchasing an additional 6,753 shares during the period. Markel Group Inc. boosted its holdings in The Hanover Insurance Group by 5.8% in the 3rd quarter. Markel Group Inc. now owns 254,000 shares of the insurance provider’s stock worth $37,620,000 after buying an additional 14,000 shares during the period. Tidal Investments LLC purchased a new position in The Hanover Insurance Group in the 1st quarter valued at approximately $867,000. Foundations Investment Advisors LLC bought a new stake in The Hanover Insurance Group during the 2nd quarter valued at $681,000. Finally, Intech Investment Management LLC purchased a new stake in shares of The Hanover Insurance Group during the second quarter worth $431,000. Hedge funds and other institutional investors 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.