Shares of The Hanover Insurance Group, Inc. (NYSE:THG – Get Free Report) have received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $227.1429.
A number of brokerages have weighed in on THG. Citizens Jmp increased their target price on shares of 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. Piper Sandler lowered shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price target for the company. in a report on Wednesday, July 15th. Keefe, Bruyette & Woods boosted their price objective on shares of The Hanover Insurance Group from $222.00 to $232.00 and gave the company a “market perform” rating in a research report on Friday, September 18th. Royal Bank Of Canada increased their price objective on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised shares of The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, July 30th.
Get Our Latest Research Report on The Hanover Insurance Group
The Hanover Insurance Group Price Performance
The Hanover Insurance Group (NYSE:THG – Get Free Report) last announced its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company posted $4.35 EPS. The Hanover Insurance Group’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts expect that The Hanover Insurance Group will post 20.17 EPS for the current fiscal year.
The Hanover Insurance Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a $0.95 dividend. The ex-dividend date is Friday, September 11th. This represents a $3.80 annualized dividend and a yield of 1.7%. The Hanover Insurance Group’s dividend payout ratio is 18.14%.
Insider Buying and Selling
In other news, Director Jane Carlin sold 1,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $231.50, for a total value of $231,500.00. Following the completion of the transaction, the director directly owned 2,270 shares in the company, valued at $525,505. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dennis Kerrigan sold 6,551 shares of The Hanover Insurance Group stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total value of $1,446,395.29. Following the transaction, the executive vice president owned 12,003 shares in the company, valued at approximately $2,650,142.37. This trade represents a 35.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,655 shares of company stock valued at $2,145,846 over the last three months. Corporate insiders own 2.80% of the company’s stock.
Institutional Investors Weigh In On The Hanover Insurance Group
Several large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC boosted its stake in The Hanover Insurance Group by 29.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,025 shares of the insurance provider’s stock worth $1,076,000 after purchasing an additional 1,151 shares during the period. WINTON GROUP Ltd raised its stake in The Hanover Insurance Group by 1,447.6% during the 2nd quarter. WINTON GROUP Ltd now owns 24,761 shares of the insurance provider’s stock valued at $5,302,000 after purchasing an additional 23,161 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of The Hanover Insurance Group by 44.0% in the second quarter. Integrated Wealth Concepts LLC now owns 1,952 shares of the insurance provider’s stock valued at $418,000 after purchasing an additional 596 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of The Hanover Insurance Group in the second quarter valued at $205,000. Finally, IFP Advisors Inc boosted its position in shares of The Hanover Insurance Group by 334.7% in the second quarter. IFP Advisors Inc now owns 639 shares of the insurance provider’s stock worth $137,000 after buying an additional 492 shares during the period. 86.61% of the stock is owned by institutional investors.
About The Hanover Insurance Group
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 offerings are designed for individuals, families, businesses and specialty-market customers, with a focus on helping policyholders manage risks involving property, automobiles, liability and business operations.
The company’s personal lines business includes automobile, homeowners, renters, condominium, umbrella and related insurance products.
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