The Hanover Insurance Group (NYSE:THG) Sets New 52-Week High – What’s Next?

The Hanover Insurance Group, Inc. (NYSE:THG)’s share price hit 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

Several research analysts have issued reports on the company. Piper Sandler lowered The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price target on the stock. in a report on Wednesday, July 15th. Royal Bank Of Canada boosted their price objective on The Hanover Insurance Group from $235.00 to $245.00 and gave the company a “sector perform” rating in a report on Friday, October 30th. Keefe, Bruyette & Woods upped their target price on The Hanover Insurance Group from $222.00 to $232.00 and gave the stock a “market perform” rating in a research report on Friday, September 18th. Oppenheimer reiterated an “outperform” rating and issued a $260.00 target price on shares of The Hanover Insurance Group in a report on Tuesday, October 13th. Finally, Morgan Stanley lifted their price target on shares of The Hanover Insurance Group from $230.00 to $235.00 and gave the company an “equal weight” rating in a research report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.00.

The Hanover Insurance Group Stock Up 2.5%

The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.23. The stock’s 50-day simple moving average is $227.79 and its 200-day simple moving average is $201.24. The firm has a market capitalization of $8.80 billion, a P/E ratio of 12.25 and a beta of 0.24.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, October 28th. The insurance provider reported $5.15 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.81 billion. During the same quarter last year, the business posted $5.09 EPS. As a group, research analysts predict that The Hanover Insurance Group, Inc. will post 20.80 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, September 11th. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 18.17%.

Insider Buying and Selling

In other news, EVP Dennis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $222.41, for a total transaction of $467,950.64. Following the sale, the executive vice president directly owned 12,003 shares in the company, valued at $2,669,587.23. The trade was a 14.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On The Hanover Insurance Group

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in The Hanover Insurance Group in the 2nd quarter valued at about $756,471,000. Dimensional Fund Advisors LP increased its stake in shares of The Hanover Insurance Group by 16.4% in the first quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock worth $168,179,000 after purchasing an additional 136,998 shares in the last quarter. First Trust Advisors LP increased its stake in shares of The Hanover Insurance Group by 3.2% in the first quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock worth $143,416,000 after purchasing an additional 25,945 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of The Hanover Insurance Group by 1.6% in the first 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 period. Finally, Bank of America Corp DE raised its position in shares of The Hanover Insurance Group by 10.1% in the first quarter. Bank of America Corp DE now owns 251,130 shares of the insurance provider’s stock valued at $43,533,000 after purchasing an additional 22,978 shares during the period. 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.