The Hanover Insurance Group (NYSE:THG) Shares Down 1.7% – Here’s Why

The Hanover Insurance Group, Inc. (NYSE:THG) shares fell 1.7% on Monday . The company traded as low as $162.17 and last traded at $162.17. 10,870 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 174,799 shares. The stock had previously closed at $165.01.

Analysts Set New Price Targets

Several equities analysts recently commented on THG shares. Janney Montgomery Scott lowered shares of 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. Bank of America lifted their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Piper Sandler increased their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods lifted 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 note on Thursday, November 7th. Finally, Oppenheimer increased their price objective on The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.83.

The Hanover Insurance Group Stock Down 1.3 %

The company has a 50 day moving average price of $153.76 and a 200-day moving average price of $140.56. The stock has a market capitalization of $5.87 billion, a PE ratio of 16.16 and a beta of 0.70. 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 Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the business earned $0.19 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, analysts forecast 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 announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio is currently 33.73%.

Insider Activity at The Hanover Insurance Group

In related news, EVP Jeffrey M. Farber sold 1,200 shares of the 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 transaction, the executive vice president now directly owns 85,983 shares in the company, valued at $12,906,908.13. This trade represents a 1.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 30,551 shares of company stock worth $4,781,935 over the last ninety days. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

A number of hedge funds and other institutional investors have recently bought and sold shares of THG. True Wealth Design LLC bought a new stake in shares of The Hanover Insurance Group in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new stake in The Hanover Insurance Group in the third quarter worth $26,000. Point72 Hong Kong Ltd purchased a new stake in shares of The Hanover Insurance Group in the second quarter worth $25,000. Wilmington Savings Fund Society FSB bought a new position in shares of The Hanover Insurance Group during the third quarter valued at $30,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of The Hanover Insurance Group in the 2nd quarter worth about $42,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

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.