The Hanover Insurance Group (NYSE:THG) Shares Up 0.2% After Dividend Announcement

Shares of The Hanover Insurance Group, Inc. (NYSE:THG) rose 0.2% on Tuesday following a dividend announcement from the company. The company traded as high as $163.57 and last traded at $162.86. Approximately 13,642 shares traded hands during trading, a decline of 92% from the average daily volume of 174,734 shares. The stock had previously closed at $162.52.

The newly announced dividend which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.20%. This is a boost from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The Hanover Insurance Group’s payout ratio is presently 33.73%.

Analyst Ratings Changes

THG has been the subject of several research reports. JMP Securities increased their price objective 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. Oppenheimer lifted their price target on The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Bank of America upped their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on The Hanover Insurance Group from $164.00 to $170.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Finally, Piper Sandler raised their price target 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. Three investment 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 an average target price of $173.83.

The Hanover Insurance Group Trading Up 0.6 %

The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 16.16 and a beta of 0.71. 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 business’s 50-day moving average price is $154.04 and its two-hundred day moving average price is $140.74.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results 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 Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business posted $0.19 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Research analysts predict that The Hanover Insurance Group, Inc. will post 11.43 earnings per share for the current year.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 12,000 shares of the business’s 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 sale, the executive vice president now directly owns 66,091 shares of the company’s stock, valued at $10,249,392.28. The trade was a 15.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 30,551 shares of company stock valued at $4,781,935 over the last ninety days. 2.50% of the stock is owned by corporate insiders.

Institutional Trading of The Hanover Insurance Group

Several institutional investors have recently modified their holdings of the business. Tidal Investments LLC grew its position in shares of The Hanover Insurance Group by 344.5% in the 3rd quarter. Tidal Investments LLC now owns 7,254 shares of the insurance provider’s stock valued at $1,074,000 after buying an additional 5,622 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of The Hanover Insurance Group in the third quarter worth approximately $30,000. Sanctuary Advisors LLC boosted its holdings in The Hanover Insurance Group by 35.0% in the third quarter. Sanctuary Advisors LLC now owns 4,013 shares of the insurance provider’s stock valued at $656,000 after acquiring an additional 1,040 shares during the last quarter. TD Private Client Wealth LLC increased its position in The Hanover Insurance Group by 15.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the insurance provider’s stock valued at $174,000 after purchasing an additional 161 shares during the period. Finally, Geode Capital Management LLC raised its holdings in The Hanover Insurance Group by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 660,272 shares of the insurance provider’s stock worth $97,816,000 after purchasing an additional 16,800 shares during the last quarter. Institutional investors 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.