The Hanover Insurance Group (NYSE:THG) Rating Lowered to “Neutral” at Janney Montgomery Scott

Janney Montgomery Scott lowered shares of The Hanover Insurance Group (NYSE:THG) from a buy rating to a neutral rating in a research report report published on Thursday morning, Marketbeat Ratings reports. Janney Montgomery Scott currently has $176.00 price target on the insurance provider’s stock.

THG has been the topic of several other research reports. Bank of America lifted their price objective on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Oppenheimer lifted their price target on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods upped their price objective on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Piper Sandler raised their price objective on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, JMP Securities increased their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $173.83.

The Hanover Insurance Group Trading Up 0.5 %

Shares of NYSE THG opened at $163.60 on Thursday. The company’s 50 day simple moving average is $152.25 and its 200 day simple moving average is $139.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.40 and a quick ratio of 0.40. The Hanover Insurance Group has a fifty-two week low of $119.36 and a fifty-two week high of $165.27. The firm has a market capitalization of $5.89 billion, a P/E ratio of 16.23 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.40. The business had revenue of $1.57 billion for 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 firm’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the company earned $0.19 EPS. On average, analysts predict that The Hanover Insurance Group will post 11.43 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.85 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. The Hanover Insurance Group’s dividend payout ratio (DPR) is 33.73%.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 300 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 89,733 shares of the company’s stock, valued at $13,459,950. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard W. Lavey sold 8,468 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $144.01, for a total transaction of $1,219,476.68. Following the completion of the sale, the executive vice president now owns 36,281 shares of the company’s stock, valued at approximately $5,224,826.81. This represents a 18.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,919 shares of company stock worth $5,984,912. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its stake in shares of The Hanover Insurance Group by 10.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider’s stock worth $219,883,000 after buying an additional 143,339 shares during the last quarter. State Street Corp boosted its holdings in shares of The Hanover Insurance Group by 0.3% during the third quarter. State Street Corp now owns 1,239,701 shares of the insurance provider’s stock worth $183,612,000 after acquiring an additional 3,780 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of The Hanover Insurance Group by 0.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 997,011 shares of the insurance provider’s stock valued at $147,667,000 after purchasing an additional 4,717 shares during the last quarter. American Century Companies Inc. increased its stake in shares of The Hanover Insurance Group by 4.3% during the second quarter. American Century Companies Inc. now owns 802,033 shares of the insurance provider’s stock worth $100,607,000 after purchasing an additional 33,249 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in The Hanover Insurance Group by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 798,109 shares of the insurance provider’s stock worth $100,111,000 after purchasing an additional 30,536 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

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.