The Hanover Insurance Group (NYSE:THG) Trading 0.8% Higher – What’s Next?

Shares of The Hanover Insurance Group, Inc. (NYSE:THG) traded up 0.8% on Friday . The stock traded as high as $155.52 and last traded at $155.37. 21,610 shares traded hands during trading, a decline of 88% from the average session volume of 174,956 shares. The stock had previously closed at $154.19.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JMP Securities boosted their target price 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. Oppenheimer upped their price objective on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. 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. Bank of America upped their price target on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, 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 research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $173.29.

The Hanover Insurance Group Trading Down 0.0 %

The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 15.29 and a beta of 0.71. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $156.09 and a 200-day moving average price of $142.27.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.40. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. As a group, research analysts expect that The Hanover Insurance Group, Inc. will post 11.41 EPS for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.90 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.60 dividend on an annualized basis and a yield of 2.34%. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The Hanover Insurance Group’s payout ratio is currently 35.71%.

Insider Buying and Selling at The Hanover Insurance Group

In related news, EVP Jeffrey M. Farber sold 1,200 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $150.11, for a total value of $180,132.00. Following the transaction, the executive vice president now owns 85,983 shares in the company, valued at approximately $12,906,908.13. The trade was a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 30,551 shares of company stock valued at $4,781,935 in the last ninety days. 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 raised its stake in The Hanover Insurance Group by 14,711.0% during the third quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider’s stock valued at $81,823,000 after buying an additional 548,720 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in The Hanover Insurance Group by 10.7% during 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 acquiring an additional 143,339 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in The Hanover Insurance Group during the 2nd quarter worth $14,684,000. AQR Capital Management LLC grew its stake in shares of The Hanover Insurance Group by 116.7% in the second quarter. AQR Capital Management LLC now owns 114,643 shares of the insurance provider’s stock worth $14,150,000 after purchasing an additional 61,738 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in The Hanover Insurance Group during the 2nd quarter valued at about $4,284,000. 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.