The Hanover Insurance Group (NYSE:THG) Sets New 1-Year High – Here’s Why

The Hanover Insurance Group, Inc. (NYSE:THG) shares hit a new 52-week high on Friday . The stock traded as high as $165.80 and last traded at $165.62, with a volume of 15840 shares. The stock had previously closed at $164.27.

Analyst Ratings Changes

A number of analysts have recently issued reports on THG shares. Keefe, Bruyette & Woods boosted their price objective on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Oppenheimer increased their price objective on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JMP Securities increased their price objective on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Janney Montgomery Scott lowered The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective on the stock. in a research note on Thursday, November 21st. Finally, Piper Sandler increased their price objective on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.83.

The Hanover Insurance Group Price Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.40 and a current ratio of 0.40. The business has a 50 day simple moving average of $153.40 and a 200-day simple moving average of $140.27. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 16.30 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.40. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The Hanover Insurance Group’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 EPS. Equities research analysts expect that The Hanover Insurance Group, Inc. will post 11.43 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date was Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is 33.73%.

Insider Activity

In related news, EVP Jeffrey M. Farber sold 300 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $150.00, for a total transaction of $45,000.00. Following the sale, the executive vice president now directly owns 89,733 shares in the company, valued at approximately $13,459,950. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 30,551 shares of company stock valued at $4,781,935 in the last 90 days. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in shares of The Hanover Insurance Group by 14,711.0% in the third quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider’s stock worth $81,823,000 after purchasing an additional 548,720 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of The Hanover Insurance Group by 10.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider’s stock worth $219,883,000 after purchasing an additional 143,339 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of The Hanover Insurance Group in the second quarter worth approximately $14,684,000. AQR Capital Management LLC grew its stake in The Hanover Insurance Group by 116.7% in the 2nd quarter. AQR Capital Management LLC now owns 114,643 shares of the insurance provider’s stock worth $14,150,000 after buying an additional 61,738 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of The Hanover Insurance Group in the 2nd quarter worth $4,284,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.