The Hanover Insurance Group (NYSE:THG) Reaches New 12-Month High – Here’s What Happened

The Hanover Insurance Group, Inc. (NYSE:THG)’s stock price reached a new 52-week high during trading on Thursday. The stock traded as high as $236.57 and last traded at $236.1430, with a volume of 44,039 shares changing hands. The stock had previously closed at $231.93.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (a)” rating to a “buy (a+)” rating in a report on Thursday, October 8th. Piper Sandler downgraded The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price for the company. in a research note on Wednesday, July 15th. Citizens Jmp lifted their price target on The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 29th. Finally, Oppenheimer reissued an “outperform” rating and set a $260.00 price target on shares of The Hanover Insurance Group in a research report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $231.43.

The Hanover Insurance Group Stock Performance

The firm’s 50 day moving average price is $224.44 and its two-hundred day moving average price is $208.78. The firm has a market cap of $8.34 billion, a PE ratio of 11.44 and a beta of 0.23. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, beating the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the company earned $4.35 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, research analysts forecast that The Hanover Insurance Group, Inc. will post 20.25 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.80 annualized dividend and a yield of 1.6%. The Hanover Insurance Group’s dividend payout ratio (DPR) is 18.14%.

Insiders Place Their Bets

In other news, Director Jane Carlin sold 1,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the completion of the transaction, the director directly owned 2,270 shares in the company, valued at approximately $525,505. This represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dennis Kerrigan sold 2,104 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $222.41, for a total value of $467,950.64. Following the sale, the executive vice president directly owned 12,003 shares of the company’s stock, valued at $2,669,587.23. The trade was a 14.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,655 shares of company stock worth $2,145,846 in the last 90 days. Company insiders own 2.80% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Basecamp Wealth Advisors LLC boosted its stake in The Hanover Insurance Group by 19.1% during the first quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider’s stock worth $59,000 after buying an additional 55 shares during the period. Quadrant Capital Group LLC raised its stake in shares of The Hanover Insurance Group by 0.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 6,841 shares of the insurance provider’s stock valued at $1,522,000 after acquiring an additional 56 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of The Hanover Insurance Group by 5.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider’s stock valued at $195,000 after acquiring an additional 59 shares during the period. Versant Capital Management Inc raised its stake in shares of The Hanover Insurance Group by 7.1% in the 3rd quarter. Versant Capital Management Inc now owns 922 shares of the insurance provider’s stock valued at $197,000 after acquiring an additional 61 shares during the period. Finally, World Investment Advisors raised its stake in shares of The Hanover Insurance Group by 3.1% in the 1st quarter. World Investment Advisors now owns 2,359 shares of the insurance provider’s stock valued at $409,000 after acquiring an additional 71 shares during the period. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.

The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers’ compensation and other specialized coverages.

The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.