The Hanover Insurance Group (NYSE:THG) Sets New 52-Week High – Here’s What Happened

The Hanover Insurance Group, Inc. (NYSE:THGGet Free Report) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $165.80 and last traded at $165.62, with a volume of 15840 shares trading hands. The stock had previously closed at $164.27.

Analyst Upgrades and Downgrades

Several analysts recently commented on THG shares. Piper Sandler raised their price objective on shares of 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. 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. 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 report on Thursday, November 7th. Janney Montgomery Scott cut The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective for the company. in a report on Thursday, November 21st. Finally, Oppenheimer upped their target price 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $173.83.

Get Our Latest Stock Report on THG

The Hanover Insurance Group Price Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.40 and a current ratio of 0.40. The company has a 50-day moving average of $153.76 and a 200-day moving average of $140.48. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 16.37 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THGGet Free Report) last released its quarterly earnings results 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 business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. As a group, equities 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 company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.85 per share. The ex-dividend date was Friday, September 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.06%. The Hanover Insurance Group’s dividend payout ratio is currently 33.73%.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 1,200 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $150.11, for a total transaction of $180,132.00. Following the sale, the executive vice president now owns 85,983 shares in the company, valued at $12,906,908.13. This trade represents a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 30,551 shares of company stock worth $4,781,935 over the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Large investors have recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new position in The Hanover Insurance Group during the third quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of The Hanover Insurance Group during the 3rd quarter worth $26,000. Point72 Hong Kong Ltd purchased a new position in shares of The Hanover Insurance Group in the 2nd quarter worth $25,000. Wilmington Savings Fund Society FSB acquired a new position in The Hanover Insurance Group in the third quarter valued at $30,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in The Hanover Insurance Group during the second quarter valued at about $42,000. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

The Hanover Insurance Group Company Profile

(Get Free Report)

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.

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