The Hanover Insurance Group, Inc. (NYSE:THG) Short Interest Up 27.1% in November

The Hanover Insurance Group, Inc. (NYSE:THG) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 315,500 shares, a growth of 27.1% from the October 31st total of 248,300 shares. Based on an average trading volume of 189,700 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.9% of the company’s stock are short sold.

The Hanover Insurance Group Stock Performance

NYSE THG traded down $2.49 during trading hours on Monday, hitting $162.52. 143,548 shares of the company’s stock traded hands, compared to its average volume of 175,388. The Hanover Insurance Group has a 52 week low of $119.36 and a 52 week high of $166.13. The firm has a market capitalization of $5.86 billion, a P/E ratio of 16.16 and a beta of 0.70. 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 business’s fifty day moving average price is $153.76 and its two-hundred day moving average price is $140.56.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, topping 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 company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm earned $0.19 EPS. The Hanover Insurance Group’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities research analysts predict that The Hanover Insurance Group will post 11.43 EPS for the current year.

The Hanover Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.90 per share. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.85. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.22%. The Hanover Insurance Group’s payout ratio is 33.73%.

Analyst Upgrades and Downgrades

Several brokerages have commented on THG. JMP Securities increased their target price on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Bank of America lifted their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their target price on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Oppenheimer raised their price target on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Piper Sandler boosted 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 report on Friday, November 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.83.

Insiders Place Their Bets

In other news, EVP Jeffrey M. Farber sold 6,114 shares of the stock in a transaction that occurred on 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 in the company, valued at $8,782,214.76. This represents a 10.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 30,551 shares of company stock valued at $4,781,935. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in shares of The Hanover Insurance Group in the second quarter worth $25,000. True Wealth Design LLC bought a new position in The Hanover Insurance Group in the 3rd quarter worth $25,000. V Square Quantitative Management LLC purchased a new stake in The Hanover Insurance Group in the 3rd quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of The Hanover Insurance Group in the third quarter valued at about $30,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of The Hanover Insurance Group in the second quarter worth about $42,000. Institutional investors 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.