The Hanover Insurance Group (NYSE:THG) Trading Up 0.2% Following Dividend Announcement

The Hanover Insurance Group, Inc. (NYSE:THG) shares were up 0.2% during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $163.57 and last traded at $162.86. Approximately 13,642 shares changed hands during trading, a decline of 92% from the average daily volume of 174,734 shares. The stock had previously closed at $162.52.

The newly announced dividend which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.90 dividend. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.85. This represents a $3.60 dividend on an annualized basis and a yield of 2.20%. The Hanover Insurance Group’s payout ratio is presently 33.73%.

Wall Street Analyst Weigh In

THG has been the topic of a number of research analyst reports. Bank of America increased their price target on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. JMP Securities upped their price objective on shares of 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 downgraded The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 target price for the company. in a research note on Thursday, November 21st. Oppenheimer upped their price target on 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. Finally, Piper Sandler raised their price objective on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.83.

The Hanover Insurance Group Trading Up 0.6 %

The stock has a market capitalization of $5.89 billion, a PE ratio of 16.16 and a beta of 0.71. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $154.04 and a 200 day moving average price of $140.74.

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

Insiders Place Their Bets

In related news, EVP Jeffrey M. Farber sold 300 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total value of $45,000.00. Following the transaction, the executive vice president now directly owns 89,733 shares of the company’s stock, valued at approximately $13,459,950. The trade was a 0.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 30,551 shares of company stock valued at $4,781,935. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. purchased a new stake in The Hanover Insurance Group in the 1st quarter worth about $261,000. Tidal Investments LLC purchased a new position in shares of The Hanover Insurance Group in the first quarter worth about $867,000. Cetera Advisors LLC bought a new stake in shares of The Hanover Insurance Group in the first quarter valued at approximately $208,000. Boston Partners lifted its stake in shares of The Hanover Insurance Group by 111.8% during the 1st quarter. Boston Partners now owns 12,794 shares of the insurance provider’s stock valued at $1,739,000 after buying an additional 6,753 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in The Hanover Insurance Group by 4.2% in the 2nd quarter. Park Avenue Securities LLC now owns 4,871 shares of the insurance provider’s stock worth $611,000 after buying an additional 198 shares during the period. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

About The Hanover Insurance Group

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.