The Hanover Insurance Group (NYSE:THG) Trading 0.4% Higher – What’s Next?

The Hanover Insurance Group, Inc. (NYSE:THG) shot up 0.4% during trading on Monday . The company traded as high as $164.46 and last traded at $164.24. 122,969 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 174,402 shares. The stock had previously closed at $163.60.

Analyst Upgrades and Downgrades

THG has been the subject of several analyst reports. Oppenheimer raised their price target on The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods upped their target price on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price objective on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. JMP Securities increased their target price on 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. Finally, Bank of America boosted 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.83.

The Hanover Insurance Group Stock Performance

The firm has a market capitalization of $5.83 billion, a PE ratio of 16.04 and a beta of 0.70. 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 business’s 50 day simple moving average is $152.25 and its two-hundred day simple moving average is $139.56.

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

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.85 per share. The ex-dividend date was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a yield of 2.10%. The Hanover Insurance Group’s dividend payout ratio is currently 33.73%.

Insiders Place Their Bets

In other The Hanover Insurance Group news, EVP Richard W. Lavey sold 8,468 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $144.01, for a total value of $1,219,476.68. Following the completion of the transaction, the executive vice president now directly owns 36,281 shares in the company, valued at $5,224,826.81. This represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey M. Farber sold 6,114 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $162.36, for a total transaction of $992,669.04. Following the sale, the executive vice president now owns 54,091 shares in the company, valued at $8,782,214.76. The trade was a 10.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,919 shares of company stock worth $5,984,912. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On The Hanover Insurance Group

Large investors have recently made changes to their positions in the business. Tidal Investments LLC grew its holdings in The Hanover Insurance Group by 344.5% during 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 in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in The Hanover Insurance Group during the third quarter valued at $30,000. Sanctuary Advisors LLC lifted its stake in The Hanover Insurance Group by 35.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,013 shares of the insurance provider’s stock worth $656,000 after purchasing an additional 1,040 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of 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 last quarter. Finally, Geode Capital Management LLC grew its position in shares of The Hanover Insurance Group by 2.6% during the third quarter. Geode Capital Management LLC now owns 660,272 shares of the insurance provider’s stock valued at $97,816,000 after purchasing an additional 16,800 shares in the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

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.