The Hanover Insurance Group (NYSE:THG) Sets New 52-Week High – Should You Buy?

The Hanover Insurance Group, Inc. (NYSE:THG)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $193.32 and last traded at $192.1450, with a volume of 19265 shares trading hands. The stock had previously closed at $189.30.

Wall Street Analysts Forecast Growth

THG has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on shares of The Hanover Insurance Group from $204.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, May 8th. Citizens Jmp raised their price objective on The Hanover Insurance Group from $200.00 to $205.00 and gave the company a “market outperform” rating in a report on Thursday, April 30th. Wall Street Zen lowered The Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Royal Bank Of Canada raised their price objective on The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $203.60.

The Hanover Insurance Group Stock Up 1.5%

The business has a fifty day simple moving average of $178.36 and a two-hundred day simple moving average of $177.97. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The company has a market cap of $6.82 billion, a PE ratio of 9.81 and a beta of 0.31.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.14 by $1.11. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm earned $3.87 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that The Hanover Insurance Group, Inc. will post 18.45 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, March 13th. The Hanover Insurance Group’s payout ratio is currently 19.12%.

The Hanover Insurance Group declared that its board has approved a stock repurchase program on Wednesday, May 13th that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 10.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Denise Lowsley sold 4,175 shares of The Hanover Insurance Group stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $191.73, for a total transaction of $800,472.75. Following the transaction, the executive vice president owned 3,883 shares in the company, valued at $744,487.59. The trade was a 51.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cynthia Egan sold 3,400 shares of The Hanover Insurance Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $188.50, for a total value of $640,900.00. Following the transaction, the director owned 9,359 shares in the company, valued at approximately $1,764,171.50. This represents a 26.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,837 shares of company stock worth $1,858,577 in the last quarter. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. JPL Wealth Management LLC purchased a new position in shares of The Hanover Insurance Group during the 3rd quarter worth $26,000. Community Bank N.A. purchased a new stake in The Hanover Insurance Group in the 3rd quarter valued at about $27,000. McMillan Office Inc. purchased a new stake in The Hanover Insurance Group in the 4th quarter valued at about $31,000. Entrust Financial LLC purchased a new stake in The Hanover Insurance Group in the 4th quarter valued at about $33,000. Finally, Clearstead Advisors LLC raised its holdings in The Hanover Insurance Group by 300.0% in the 3rd quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider’s stock valued at $36,000 after buying an additional 150 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 (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.