The Hanover Insurance Group (NYSE:THG) Trading Up 0.8% – Here’s What Happened

Shares of The Hanover Insurance Group, Inc. (NYSE:THG) traded up 0.8% on Wednesday . The stock traded as high as $164.51 and last traded at $164.38. 17,867 shares were traded during mid-day trading, a decline of 90% from the average session volume of 175,167 shares. The stock had previously closed at $163.04.

Wall Street Analyst Weigh In

THG has been the topic of a number of recent research reports. Piper Sandler increased their price objective 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. Bank of America boosted their price target on shares of 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. Janney Montgomery Scott lowered The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 target price on the stock. in a research note on Thursday, November 21st. Oppenheimer boosted their price objective 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, JMP Securities lifted their price target on shares of 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.83.

The Hanover Insurance Group Stock Up 0.8 %

The firm’s 50-day moving average is $153.40 and its 200 day moving average is $140.27. The firm has a market capitalization of $5.92 billion, a P/E ratio of 16.30 and a beta of 0.70. 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 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, 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 business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned $0.19 earnings per share. The Hanover Insurance Group’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts predict that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 annualized dividend and a yield of 2.07%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 33.73%.

Insider Activity

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $150.11, for a total transaction of $180,132.00. Following the transaction, the executive vice president now owns 85,983 shares of the company’s stock, valued at $12,906,908.13. The trade was a 1.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 30,551 shares of company stock worth $4,781,935 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

Large investors have recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new position in shares of The Hanover Insurance Group during the 3rd quarter worth about $25,000. V Square Quantitative Management LLC bought a new position in shares of The Hanover Insurance Group during the 3rd quarter worth approximately $26,000. Point72 Hong Kong Ltd bought a new position in shares of The Hanover Insurance Group during the 2nd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in The Hanover Insurance Group in the 3rd quarter valued at $30,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in The Hanover Insurance Group during the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

About The Hanover Insurance Group

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.