The Hanover Insurance Group (NYSE:THG) Shares Gap Up on Earnings Beat

The Hanover Insurance Group, Inc. (NYSE:THG)’s stock price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $152.95, but opened at $159.11. The Hanover Insurance Group shares last traded at $159.57, with a volume of 19,552 shares trading hands.

The insurance provider reported $5.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%.

The Hanover Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.90 dividend. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.60 annualized dividend and a dividend yield of 2.27%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 35.71%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods boosted their price objective on shares of The Hanover Insurance Group from $170.00 to $176.00 and gave the company a “market perform” rating in a research note on Friday, January 10th. Bank of America boosted their price objective on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Morgan Stanley started coverage on shares of The Hanover Insurance Group in a research note on Thursday, December 5th. They set an “equal weight” rating and a $170.00 price objective for the company. Finally, BMO Capital Markets boosted their price objective on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $174.88.

Insider Buying and Selling at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 5,886 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $160.05, for a total value of $942,054.30. Following the completion of the sale, the executive vice president now owns 60,205 shares of the company’s stock, valued at approximately $9,635,810.25. This represents a 8.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 12,100 shares of company stock worth $1,951,223 over the last three months. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

A number of institutional investors have recently made changes to their positions in THG. True Wealth Design LLC purchased a new stake in The Hanover Insurance Group during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in The Hanover Insurance Group during the 3rd quarter valued at $26,000. Wilmington Savings Fund Society FSB purchased a new stake in The Hanover Insurance Group during the 3rd quarter valued at $30,000. Venturi Wealth Management LLC boosted its position in The Hanover Insurance Group by 49.5% during the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider’s stock valued at $42,000 after buying an additional 90 shares during the period. Finally, Eagle Bay Advisors LLC boosted its position in The Hanover Insurance Group by 502.1% during the 4th quarter. Eagle Bay Advisors LLC now owns 283 shares of the insurance provider’s stock valued at $44,000 after buying an additional 236 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Up 3.7 %

The firm has a market cap of $5.71 billion, a PE ratio of 15.83 and a beta of 0.72. 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’s 50-day simple moving average is $155.80 and its two-hundred day simple moving average is $149.62.

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.