The Hanover Insurance Group (NYSE:THG) Shares Up 0.1% – Here’s Why

The Hanover Insurance Group, Inc. (NYSE:THG)’s stock price rose 0.1% during trading on Wednesday . The stock traded as high as $163.80 and last traded at $163.27. Approximately 13,615 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 173,971 shares. The stock had previously closed at $163.16.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on THG shares. Oppenheimer raised 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 note on Friday, November 1st. JMP Securities raised their target price on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Piper Sandler upped their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods increased their price objective on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Finally, Bank of America lifted their target price on 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. Three equities research 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 an average rating of “Moderate Buy” and an average target price of $173.83.

The Hanover Insurance Group Trading Up 0.8 %

The firm has a market capitalization of $5.89 billion, a PE ratio of 16.23 and a beta of 0.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.40 and a quick ratio of 0.40. The company has a fifty day moving average of $151.55 and a 200-day moving average of $139.13.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.40. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 EPS. On average, sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 11.29 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.85 per share. The ex-dividend date was Friday, September 13th. This represents a $3.40 annualized dividend and a yield of 2.08%. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 33.73%.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Richard W. Lavey sold 8,468 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was 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 $5,224,826.81. This trade represents a 18.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 that occurred on Friday, October 18th. The shares were sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the completion of the transaction, the executive vice president now directly owns 66,091 shares in the company, valued at approximately $10,249,392.28. This represents a 15.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,419 shares of company stock valued at $6,054,037. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

A number of hedge funds have recently bought and sold shares of THG. International Assets Investment Management LLC increased its stake in shares of The Hanover Insurance Group by 14,711.0% in the third quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider’s stock worth $81,823,000 after purchasing an additional 548,720 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in The Hanover Insurance Group by 10.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider’s stock valued at $219,883,000 after buying an additional 143,339 shares during the last quarter. Point72 Asset Management L.P. bought a new position in The Hanover Insurance Group in the 2nd quarter worth approximately $14,684,000. AQR Capital Management LLC lifted its holdings in shares of The Hanover Insurance Group by 116.7% during the second quarter. AQR Capital Management LLC now owns 114,643 shares of the insurance provider’s stock worth $14,150,000 after buying an additional 61,738 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of The Hanover Insurance Group in the second quarter valued at approximately $4,284,000. 86.61% of the stock is currently owned by institutional investors.

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.