The Hanover Insurance Group, Inc. (THG) Hits New 52-Week High at $99.29

The Hanover Insurance Group, Inc. (NYSE:THG) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $99.29 and last traded at $99.26, with a volume of 124,428 shares trading hands. The stock had previously closed at $98.86.

A number of research firms have issued reports on THG. Zacks Investment Research upgraded The Hanover Insurance Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods set a $91.00 target price on The Hanover Insurance Group and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, BidaskClub upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $93.00.

The stock’s 50 day moving average price is $92.09 and its 200-day moving average price is $88.49. The company has a market cap of $4.20 billion, a P/E ratio of 21.46 and a beta of 1.14.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.14. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.30 billion. The Hanover Insurance Group had a return on equity of 5.83% and a net margin of 3.95%. The Hanover Insurance Group’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 EPS. On average, equities analysts anticipate that The Hanover Insurance Group, Inc. will post $6.16 EPS for the current fiscal year.

In related news, insider J Kendall Huber sold 20,960 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $97.33, for a total value of $2,040,036.80. Following the sale, the insider now owns 34,079 shares of the company’s stock, valued at approximately $3,316,909.07. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John C. Roche sold 17,500 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $96.00, for a total value of $1,680,000.00. Following the completion of the sale, the insider now directly owns 42,524 shares in the company, valued at approximately $4,082,304. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,060 shares of company stock worth $4,660,261. 1.08% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of The Hanover Insurance Group by 8.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,576 shares of the insurance provider’s stock valued at $140,000 after buying an additional 120 shares in the last quarter. Timber Hill LLC bought a new stake in shares of The Hanover Insurance Group during the first quarter valued at approximately $212,000. Trust Co. of Toledo NA OH raised its stake in shares of The Hanover Insurance Group by 6.5% in the first quarter. Trust Co. of Toledo NA OH now owns 2,466 shares of the insurance provider’s stock valued at $222,000 after buying an additional 150 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of The Hanover Insurance Group by 3.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,557 shares of the insurance provider’s stock valued at $231,000 after buying an additional 89 shares in the last quarter. Finally, World Asset Management Inc raised its stake in shares of The Hanover Insurance Group by 0.8% in the first quarter. World Asset Management Inc now owns 2,616 shares of the insurance provider’s stock valued at $236,000 after buying an additional 22 shares in the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.

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About The Hanover Insurance Group

The Hanover Insurance Group, Inc is a holding company. The Company is engaged in providing property and casualty insurance products and services. The Company has four segments: Commercial Lines, Personal Lines, Chaucer and Other. It markets its domestic products and services through independent agents and brokers in the United States, and conducts business internationally through a subsidiary, Chaucer Holdings Limited, which operates through the Society and Corporation of Lloyd’s (Lloyd’s).

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