The Hanover Insurance Group (NYSE:THG) Trading 0.7% Higher – Here’s Why

The Hanover Insurance Group, Inc. (NYSE:THG) shares shot up 0.7% during mid-day trading on Friday . The company traded as high as $164.99 and last traded at $163.85. 15,912 shares changed hands during trading, a decline of 91% from the average session volume of 173,778 shares. The stock had previously closed at $162.74.

Analyst Ratings Changes

Several research firms recently weighed in on THG. Piper Sandler lifted their price objective on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Oppenheimer upped their price target 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. JMP Securities lifted their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Bank of America increased their price target on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.83.

The Hanover Insurance Group Stock Up 0.7 %

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 company’s 50-day moving average is $151.90 and its 200 day moving average is $139.30. The stock has a market capitalization of $5.91 billion, a PE ratio of 16.29 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.40. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. As a group, analysts anticipate that The Hanover Insurance Group, Inc. will post 11.29 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

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

Insider Transactions at The Hanover Insurance Group

In related news, EVP Jeffrey M. Farber sold 6,114 shares of The Hanover Insurance Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $162.36, for a total value of $992,669.04. Following the sale, the executive vice president now owns 54,091 shares of the company’s stock, valued at approximately $8,782,214.76. This trade represents a 10.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Warren E. Barnes sold 500 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $138.25, for a total transaction of $69,125.00. Following the transaction, the senior vice president now owns 3,013 shares of the company’s stock, valued at approximately $416,547.25. This trade represents a 14.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,419 shares of company stock worth $6,054,037 over the last quarter. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of hedge funds have recently made changes to their positions in the company. Edgestream Partners L.P. acquired a new stake in The Hanover Insurance Group in the 1st quarter valued at about $365,000. O Shaughnessy Asset Management LLC lifted its position in The Hanover Insurance Group by 4.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 2,227 shares of the insurance provider’s stock worth $303,000 after buying an additional 97 shares in the last quarter. Bessemer Group Inc. boosted its stake in The Hanover Insurance Group by 22.5% during the first quarter. Bessemer Group Inc. now owns 1,136 shares of the insurance provider’s stock worth $155,000 after buying an additional 209 shares during the last quarter. Quadrature Capital Ltd grew its holdings in The Hanover Insurance Group by 230.7% in the 1st quarter. Quadrature Capital Ltd now owns 6,733 shares of the insurance provider’s stock valued at $916,000 after buying an additional 4,697 shares in the last quarter. Finally, BOKF NA increased its stake in shares of The Hanover Insurance Group by 5.6% in the 1st quarter. BOKF NA now owns 4,351 shares of the insurance provider’s stock worth $583,000 after acquiring an additional 231 shares during the last quarter. Institutional investors and hedge funds 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.