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

The Hanover Insurance Group, Inc. (NYSE:THG)’s share price reached a new 52-week high 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.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on THG. Citizens Jmp upped 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 research report on Wednesday, July 29th. Weiss Ratings raised The Hanover Insurance Group from a “buy (a)” rating to a “buy (a+)” rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods lifted their price target on The Hanover Insurance Group from $222.00 to $232.00 and gave the stock a “market perform” rating in a research note on Friday, September 18th. Piper Sandler cut The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective for the company. in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada increased their price objective on The Hanover Insurance Group from $215.00 to $235.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.43.

The Hanover Insurance Group Price Performance

The company has a market capitalization of $8.29 billion, a PE ratio of 11.36 and a beta of 0.23. The firm has a fifty day moving average of $225.03 and a two-hundred day moving average of $209.43. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company posted $4.35 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. Research analysts anticipate that The Hanover Insurance Group, Inc. will post 20.25 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were given 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 is presently 18.14%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On The Hanover Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of The Hanover Insurance Group in the 2nd quarter worth $756,471,000. Bank of New York Mellon Corp purchased a new position in The Hanover Insurance Group in the second quarter worth about $69,481,000. Bank of America Corp DE purchased a new position in The Hanover Insurance Group in the second quarter worth about $47,734,000. Primecap Management Co. CA bought a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at about $37,844,000. Finally, William Blair Investment Management LLC bought a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at about $33,034,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

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.