The Hanover Insurance Group, Inc. (NYSE:THG – Get Free Report)’s stock price reached a new 52-week high during trading on Thursday. The company traded as high as $255.99 and last traded at $255.5390, with a volume of 4,929 shares trading hands. The stock had previously closed at $249.93.
Analyst Ratings Changes
THG has been the topic of a number of analyst reports. Royal Bank Of Canada upped their target price on shares of The Hanover Insurance Group from $235.00 to $245.00 and gave the stock a “sector perform” rating in a report on Friday, October 30th. Oppenheimer reiterated an “outperform” rating and issued a $260.00 target price on shares of The Hanover Insurance Group in a research note on Tuesday, October 13th. Piper Sandler cut The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price for the company. in a report on Wednesday, July 15th. Jefferies Financial Group set a $248.00 price objective on shares of The Hanover Insurance Group in a research report on Friday. Finally, Morgan Stanley lifted their price objective on shares of The Hanover Insurance Group from $230.00 to $235.00 and gave the stock an “equal weight” rating in a report on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, The Hanover Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $236.62.
Get Our Latest Analysis on The Hanover Insurance Group
The Hanover Insurance Group Trading Down 2.7%
The firm has a market cap of $8.34 billion, a P/E ratio of 11.55 and a beta of 0.24. The firm has a 50 day simple moving average of $228.50 and a 200 day simple moving average of $201.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.40 and a current ratio of 0.40.
The Hanover Insurance Group (NYSE:THG – Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The insurance provider reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.53. The Hanover Insurance Group had a net margin of 10.97% and a return on equity of 21.63%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the company posted $5.09 earnings per share. On average, equities research analysts predict that The Hanover Insurance Group, Inc. will post 20.80 EPS for the current fiscal year.
The Hanover Insurance Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, September 11th. The Hanover Insurance Group’s dividend payout ratio is currently 18.17%.
Insiders Place Their Bets
In other news, EVP Willard T. Lee sold 9,946 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $249.14, for a total transaction of $2,477,946.44. Following the completion of the sale, the executive vice president owned 6,004 shares in the company, valued at $1,495,836.56. The trade was a 62.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Dennis Kerrigan sold 6,551 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the completion of the sale, the executive vice president directly owned 12,003 shares in the company, valued at approximately $2,650,142.37. This represents a 35.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 18,601 shares of company stock valued at $4,392,292. 2.80% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On The Hanover Insurance Group
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in The Hanover Insurance Group during the second quarter valued at approximately $756,471,000. Dimensional Fund Advisors LP boosted its holdings in The Hanover Insurance Group by 16.4% during the first quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock worth $168,179,000 after buying an additional 136,998 shares in the last quarter. First Trust Advisors LP raised its stake in The Hanover Insurance Group by 3.2% in the 1st quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock valued at $143,416,000 after purchasing an additional 25,945 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in The Hanover Insurance Group by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 338,870 shares of the insurance provider’s stock valued at $58,743,000 after purchasing an additional 5,219 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in The Hanover Insurance Group by 10.1% during the 1st quarter. Bank of America Corp DE now owns 251,130 shares of the insurance provider’s stock worth $43,533,000 after buying an additional 22,978 shares during the period. 86.61% of the stock is owned by 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.
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