The Hanover Insurance Group (NYSE:THG) Trading 0% Higher – Time to Buy?

The Hanover Insurance Group, Inc. (NYSE:THG) was up 0% during trading on Thursday . The stock traded as high as $164.83 and last traded at $164.23. Approximately 13,803 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 174,492 shares. The stock had previously closed at $164.15.

Analyst Ratings Changes

A number of brokerages have recently commented on THG. Oppenheimer upped their price target on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JMP Securities increased their price target on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Piper Sandler increased their target price 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. Morgan Stanley began coverage on shares of The Hanover Insurance Group in a research note on Thursday. They set an “equal weight” rating and a $170.00 price target on the stock. Finally, Bank of America upped their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $173.29.

The Hanover Insurance Group Stock Performance

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 company has a market capitalization of $5.90 billion, a P/E ratio of 16.29 and a beta of 0.71. The stock’s 50 day simple moving average is $154.67 and its two-hundred day simple moving average is $141.09.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $0.19 EPS. As a group, research analysts expect that The Hanover Insurance Group, Inc. will post 11.43 earnings per share for the current year.

The Hanover Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.90 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.20%. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The Hanover Insurance Group’s dividend payout ratio is 33.73%.

Insider Buying and Selling

In related news, EVP Jeffrey M. Farber sold 1,200 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 85,983 shares of the company’s stock, valued at approximately $12,906,908.13. This represents a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 30,551 shares of company stock worth $4,781,935. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in The Hanover Insurance Group in the second quarter valued at approximately $25,000. True Wealth Design LLC bought a new stake in The Hanover Insurance Group in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in The Hanover Insurance Group during the 3rd quarter valued at $26,000. Wilmington Savings Fund Society FSB bought a new position in The Hanover Insurance Group during the third quarter worth $30,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of The Hanover Insurance Group in the second quarter valued at $42,000. 86.61% of the stock is owned by 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.