The Hanover Insurance Group (NYSE:THG) Trading 1.1% Higher – Here’s Why

The Hanover Insurance Group, Inc. (NYSE:THG) was up 1.1% during trading on Friday . The company traded as high as $166.05 and last traded at $166.05. Approximately 30,989 shares traded hands during trading, a decline of 82% from the average daily volume of 175,088 shares. The stock had previously closed at $164.27.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on THG. Keefe, Bruyette & Woods increased their price target on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Bank of America raised their target price on 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. Piper Sandler increased 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. Oppenheimer raised their price objective 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. Finally, 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 research note on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $173.83.

The Hanover Insurance Group Stock Up 0.5 %

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 has a fifty day simple moving average of $153.40 and a 200 day simple moving average of $140.27. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 16.47 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.40. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.19 EPS. As a group, equities analysts forecast that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.85 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. The Hanover Insurance Group’s payout ratio is 33.73%.

Insiders Place Their Bets

In other news, EVP Jeffrey M. Farber sold 6,114 shares of The Hanover Insurance Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $162.36, for a total transaction of $992,669.04. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 30,551 shares of company stock valued at $4,781,935 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of institutional investors have recently bought and sold shares of THG. Captrust Financial Advisors grew its position in The Hanover Insurance Group by 4.7% in the third quarter. Captrust Financial Advisors now owns 1,822 shares of the insurance provider’s stock worth $270,000 after acquiring an additional 81 shares during the period. Lecap Asset Management Ltd. raised its holdings in The Hanover Insurance Group by 2.0% in the 3rd quarter. Lecap Asset Management Ltd. now owns 4,202 shares of the insurance provider’s stock valued at $622,000 after buying an additional 84 shares during the period. Lowe Brockenbrough & Co. Inc. raised its holdings in The Hanover Insurance Group by 0.6% in the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 14,693 shares of the insurance provider’s stock valued at $2,176,000 after buying an additional 91 shares during the period. O Shaughnessy Asset Management LLC lifted its position in The Hanover Insurance Group by 4.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,227 shares of the insurance provider’s stock valued at $303,000 after buying an additional 97 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in The Hanover Insurance Group by 8.7% during the second quarter. Signaturefd LLC now owns 1,336 shares of the insurance provider’s stock worth $168,000 after buying an additional 107 shares during the period. 86.61% of the stock is owned by hedge funds and other institutional investors.

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.