The Hanover Insurance Group (NYSE:THG) Reaches New 52-Week High – Here’s Why

The Hanover Insurance Group, Inc. (NYSE:THG) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $164.04 and last traded at $163.54, with a volume of 27562 shares. The stock had previously closed at $162.55.

Wall Street Analyst Weigh In

Several analysts recently commented on THG shares. Oppenheimer raised their target price on The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. JMP Securities raised 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 research note on Thursday, October 31st. Keefe, Bruyette & Woods increased their price objective on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Piper Sandler increased their price target 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. Finally, Bank of America upped their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $173.40.

The Hanover Insurance Group Stock Performance

The firm has a fifty day moving average price of $149.18 and a 200 day moving average price of $137.59. The firm has a market capitalization of $5.91 billion, a PE ratio of 16.13 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 Hanover Insurance Group (NYSE:THG) last released its earnings results 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 company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 EPS. Research analysts anticipate that The Hanover Insurance Group, Inc. will post 11.29 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.85 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. The Hanover Insurance Group’s payout ratio is presently 33.73%.

Insider Activity

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 12,000 shares of The Hanover Insurance Group stock in a transaction that occurred on Friday, October 18th. The stock was 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 approximately $10,249,392.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 12,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $155.08, for a total value of $1,860,960.00. Following the completion of the transaction, the executive vice president now directly owns 66,091 shares of the company’s stock, valued at approximately $10,249,392.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey M. Farber sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $45,000.00. Following the completion of the sale, the executive vice president now directly owns 89,733 shares of the company’s stock, valued at approximately $13,459,950. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,303 shares of company stock valued at $6,306,926. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of large investors have recently modified their holdings of the business. Lecap Asset Management Ltd. lifted its holdings in The Hanover Insurance Group by 2.0% during the 3rd quarter. Lecap Asset Management Ltd. now owns 4,202 shares of the insurance provider’s stock valued at $622,000 after purchasing an additional 84 shares during the last quarter. Lowe Brockenbrough & Co. Inc. increased its position in The Hanover Insurance Group by 0.6% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 14,693 shares of the insurance provider’s stock worth $2,176,000 after purchasing an additional 91 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of 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 valued at $303,000 after purchasing an additional 97 shares in the last quarter. Signaturefd LLC grew its stake in shares of The Hanover Insurance Group by 8.7% in the second quarter. Signaturefd LLC now owns 1,336 shares of the insurance provider’s stock worth $168,000 after purchasing an additional 107 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of The Hanover Insurance Group by 35.4% in the 3rd quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 109 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

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.