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

The Hanover Insurance Group, Inc. (NYSE:THG)’s share price reached a new 52-week high on Tuesday . The company traded as high as $151.16 and last traded at $150.96, with a volume of 29156 shares. The stock had previously closed at $147.72.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price target on shares of The Hanover Insurance Group in a research report on Tuesday. Bank of America boosted their price target on shares of 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 boosted their target price on The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Finally, Piper Sandler upped their target price on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Two 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, The Hanover Insurance Group has an average rating of “Moderate Buy” and an average target price of $160.20.

The Hanover Insurance Group Stock Up 2.9 %

The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 34.73 and a beta of 0.69. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average price of $143.59 and a two-hundred day moving average price of $134.84.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, meeting the consensus estimate of $1.88. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.49 billion. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The Hanover Insurance Group’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned ($1.91) earnings per share. As a group, sell-side analysts expect that The Hanover Insurance Group, Inc. will post 10.99 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, September 13th. The Hanover Insurance Group’s payout ratio is 76.23%.

Insider Buying and Selling

In other news, SVP Warren E. Barnes sold 500 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $138.25, for a total value of $69,125.00. Following the transaction, the senior vice president now owns 3,013 shares in the company, valued at $416,547.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other The Hanover Insurance Group news, SVP Warren E. Barnes sold 500 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $138.25, for a total transaction of $69,125.00. Following the transaction, the senior vice president now directly owns 3,013 shares in the company, valued at $416,547.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey M. Farber sold 4,800 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $150.41, for a total transaction of $721,968.00. Following the sale, the executive vice president now directly owns 80,790 shares of the company’s stock, valued at approximately $12,151,623.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,303 shares of company stock valued at $2,511,243. Company insiders own 2.40% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

Several institutional investors have recently made changes to their positions in THG. Wellington Management Group LLP increased its position in The Hanover Insurance Group by 149.4% in the 4th quarter. Wellington Management Group LLP now owns 417,767 shares of the insurance provider’s stock valued at $50,725,000 after acquiring an additional 250,254 shares in the last quarter. Vanguard Group Inc. lifted its stake in The Hanover Insurance Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,623,766 shares of the insurance provider’s stock valued at $439,998,000 after buying an additional 13,030 shares in the last quarter. Quadrature Capital Ltd acquired a new position in The Hanover Insurance Group in the 4th quarter worth $247,000. Kapitalo Investimentos Ltda bought a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at about $65,000. Finally, Park Avenue Securities LLC grew its holdings in shares of The Hanover Insurance Group by 8.0% during the first quarter. Park Avenue Securities LLC now owns 4,673 shares of the insurance provider’s stock worth $636,000 after buying an additional 348 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

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.