The Hanover Insurance Group (NYSE:THG) Stock Price Up 0.3% – Here’s What Happened

The Hanover Insurance Group, Inc. (NYSE:THG)’s share price was up 0.3% during mid-day trading on Wednesday . The stock traded as high as $152.93 and last traded at $152.64. Approximately 16,465 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 174,715 shares. The stock had previously closed at $152.13.

Analyst Upgrades and Downgrades

A number of research firms recently commented on THG. Bank of America increased their target price 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. BMO Capital Markets raised their price objective on The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday. Janney Montgomery Scott downgraded The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 target price for the company. in a report on Thursday, November 21st. Keefe, Bruyette & Woods upped 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 lifted their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $174.13.

The Hanover Insurance Group Stock Performance

The stock has a market cap of $5.53 billion, a PE ratio of 15.23 and a beta of 0.71. The stock has a fifty day moving average of $156.58 and a 200-day moving average of $142.81. 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 Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share 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 analysts’ expectations of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.19 EPS. On average, equities analysts forecast that The Hanover Insurance Group, Inc. will post 11.41 EPS for the current year.

The Hanover Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.35%. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The ex-dividend date is Friday, December 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is 35.71%.

Insider Buying and Selling at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 12,000 shares of The Hanover Insurance Group 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 sale, the executive vice president now owns 66,091 shares of the company’s stock, valued at $10,249,392.28. The trade was a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 29,051 shares of company stock valued at $4,556,803. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in The Hanover Insurance Group in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of The Hanover Insurance Group in the 3rd quarter valued at approximately $26,000. Point72 Hong Kong Ltd purchased a new stake in shares of The Hanover Insurance Group in the second quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in The Hanover Insurance Group during the third quarter worth $30,000. Finally, 1620 Investment Advisors Inc. purchased a new position in The Hanover Insurance Group in the second quarter worth $42,000. 86.61% of the stock is 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.