The Hanover Insurance Group (NYSE:THG) Stock Breaks Above Two Hundred Day Moving Average – Here’s What Happened

The Hanover Insurance Group, Inc. (NYSE:THG)’s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $202.68 and traded as high as $219.32. The Hanover Insurance Group shares last traded at $217.4340, with a volume of 263,710 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods upped their price target on shares of 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. Piper Sandler cut shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price target for the company. in a research note on Wednesday, July 15th. Morgan Stanley lifted their price objective on shares of The Hanover Insurance Group from $235.00 to $240.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Finally, Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $227.14.

The Hanover Insurance Group Price Performance

The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 10.31 and a beta of 0.26. The business’s 50 day simple moving average is $225.00 and its 200-day simple moving average is $202.99.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, beating the consensus estimate of $3.84 by $1.47. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.65 billion. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $4.35 EPS. On average, research analysts forecast that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, September 11th. The Hanover Insurance Group’s dividend payout ratio is presently 18.14%.

Insider Buying and Selling at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $231.50, for a total value of $231,500.00. Following the completion of the transaction, the director owned 2,270 shares in the company, valued at $525,505. This trade represents a 30.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dennis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock in a transaction that occurred 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 owned 12,003 shares in the company, valued at approximately $2,669,587.23. This represents a 14.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 9,655 shares of company stock worth $2,145,846. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of hedge funds have recently modified their holdings of THG. QRG Capital Management Inc. boosted its position in shares of The Hanover Insurance Group by 9.2% during the 2nd quarter. QRG Capital Management Inc. now owns 1,267 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 107 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of The Hanover Insurance Group by 29.7% in the second quarter. Sequoia Financial Advisors LLC now owns 5,025 shares of the insurance provider’s stock worth $1,076,000 after acquiring an additional 1,151 shares during the period. WINTON GROUP Ltd increased its holdings in The Hanover Insurance Group by 1,447.6% during the 2nd quarter. WINTON GROUP Ltd now owns 24,761 shares of the insurance provider’s stock worth $5,302,000 after acquiring an additional 23,161 shares during the period. Integrated Wealth Concepts LLC grew its position in The Hanover Insurance Group by 44.0% during the second quarter. Integrated Wealth Concepts LLC now owns 1,952 shares of the insurance provider’s stock worth $418,000 after buying an additional 596 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new stake in shares of The Hanover Insurance Group during the 2nd quarter worth $205,000. Institutional investors and hedge funds 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 holding company headquartered in Worcester, Massachusetts. Founded in 1852, the company operates through a network of independent agents and provides insurance products and services primarily in the United States.

The company’s business is organized around personal, commercial and specialty insurance. Its personal lines include automobile, homeowners, condominium, renters and umbrella coverage. Commercial offerings include property, liability, workers’ compensation, commercial automobile and package policies for small and middle-market businesses, while specialty products serve selected industries and professional risks.

The Hanover also provides risk-management resources, claims services and related support to policyholders and agents.