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

Shares of The Hanover Insurance Group, Inc. (NYSE:THGGet Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $200.09 and last traded at $199.62, with a volume of 4150 shares. The stock had previously closed at $197.65.

Analysts Set New Price Targets

Several equities analysts have commented on THG shares. BMO Capital Markets lowered The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $194.00 to $203.00 in a research report on Tuesday, May 19th. Oppenheimer upped their target price on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Weiss Ratings raised shares of The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, May 22nd. Royal Bank Of Canada boosted their price objective on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Finally, Citizens Jmp upped their price objective on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the stock a “market outperform” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $207.00.

View Our Latest Stock Report on THG

The Hanover Insurance Group Stock Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37. The business has a 50 day moving average price of $186.63 and a 200 day moving average price of $180.19. The stock has a market capitalization of $6.99 billion, a PE ratio of 10.04 and a beta of 0.30.

The Hanover Insurance Group (NYSE:THGGet Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.14 by $1.11. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm earned $3.87 EPS. The Hanover Insurance Group’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that The Hanover Insurance Group, Inc. will post 18.36 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.80 annualized dividend and a yield of 1.9%. The Hanover Insurance Group’s payout ratio is 19.12%.

The Hanover Insurance Group declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 13th that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 10.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Cynthia Egan sold 3,400 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $188.50, for a total transaction of $640,900.00. Following the completion of the sale, the director owned 9,359 shares of the company’s stock, valued at $1,764,171.50. This trade represents a 26.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John C. Roche sold 8,358 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.74, for a total transaction of $1,619,278.92. Following the completion of the transaction, the chief executive officer owned 141,011 shares of the company’s stock, valued at approximately $27,319,471.14. The trade was a 5.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 29,508 shares of company stock valued at $5,704,651. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Alliancebernstein L.P. increased its holdings in The Hanover Insurance Group by 36.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock worth $217,505,000 after buying an additional 339,896 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in The Hanover Insurance Group by 16.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock valued at $168,179,000 after acquiring an additional 136,998 shares during the period. AQR Capital Management LLC boosted its holdings in shares of The Hanover Insurance Group by 24.9% during the 4th quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider’s stock valued at $174,322,000 after acquiring an additional 190,350 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of The Hanover Insurance Group by 3.2% during the 1st quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock valued at $143,416,000 after acquiring an additional 25,945 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of The Hanover Insurance Group by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 727,958 shares of the insurance provider’s stock worth $133,073,000 after acquiring an additional 29,870 shares during the period. 86.61% of the stock is owned by institutional investors.

The Hanover Insurance Group Company Profile

(Get Free Report)

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.

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