The Hanover Insurance Group (NYSE:THG) Shares Up 0.7% – Here’s What Happened

Shares of The Hanover Insurance Group, Inc. (NYSE:THG) were up 0.7% during mid-day trading on Wednesday . The company traded as high as $157.78 and last traded at $156.18. Approximately 22,883 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 175,001 shares. The stock had previously closed at $155.06.

Wall Street Analyst Weigh In

Several research analysts have issued reports on THG shares. JMP Securities raised their target price on 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 raised their price objective on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Bank of America boosted their price objective on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. 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. Finally, Keefe, Bruyette & Woods upped their price target on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $173.29.

The Hanover Insurance Group Stock Performance

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 $155.99 and a two-hundred day moving average price of $142.04. The stock has a market cap of $5.55 billion, a P/E ratio of 15.41 and a beta of 0.71.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results 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 Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm posted $0.19 EPS. The Hanover Insurance Group’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that The Hanover Insurance Group, Inc. will post 11.41 earnings per share 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. Stockholders of record on Friday, December 13th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.34%. This is a boost from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Friday, December 13th. The Hanover Insurance Group’s dividend payout ratio is 33.73%.

Insiders Place Their Bets

In other news, EVP Jeffrey M. Farber sold 1,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $150.11, for a total value of $180,132.00. Following the completion of the sale, the executive vice president now owns 85,983 shares in the company, valued at approximately $12,906,908.13. This trade represents a 1.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 30,551 shares of company stock valued at $4,781,935 in the last three months. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Institutional investors and hedge funds have recently modified their holdings of the business. True Wealth Design LLC bought a new stake in shares of The Hanover Insurance Group during the third quarter worth $25,000. V Square Quantitative Management LLC bought a new position in The Hanover Insurance Group in the 3rd quarter worth about $26,000. Point72 Hong Kong Ltd purchased a new position in shares of The Hanover Insurance Group during the second quarter worth approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of The Hanover Insurance Group during the third quarter valued at approximately $30,000. Finally, 1620 Investment Advisors Inc. bought a new position in The Hanover Insurance Group in the second quarter worth approximately $42,000. 86.61% of the stock is owned by 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.