The Hanover Insurance Group (NYSE:THG) Sets New 12-Month High – Here’s Why

The Hanover Insurance Group, Inc. (NYSE:THG) reached a new 52-week high on Thursday. The company traded as high as $255.99 and last traded at $255.5390, with a volume of 4,929 shares traded. The stock had previously closed at $249.93.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup reaffirmed a “market outperform” rating on shares of The Hanover Insurance Group in a research note on Thursday, October 29th. Weiss Ratings raised shares of The Hanover Insurance Group from a “buy (a)” rating to a “buy (a+)” rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods boosted their target price on shares of The Hanover Insurance Group from $222.00 to $232.00 and gave the company a “market perform” rating in a report on Friday, September 18th. Morgan Stanley raised their price target on shares of The Hanover Insurance Group from $230.00 to $235.00 and gave the stock an “equal weight” rating in a report on Friday, October 30th. Finally, Citizens Jmp raised their price target on shares of The Hanover Insurance Group from $240.00 to $250.00 and gave the stock a “market outperform” rating in a report on Thursday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $235.00.

The Hanover Insurance Group Stock Performance

The firm’s 50 day moving average is $227.79 and its two-hundred day moving average is $201.24. The stock has a market capitalization of $8.80 billion, a PE ratio of 12.25 and a beta of 0.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.40 and a current ratio of 0.40.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, October 28th. The insurance provider reported $5.15 EPS for the quarter, beating the consensus estimate of $4.62 by $0.53. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.81 billion. The Hanover Insurance Group had a net margin of 10.97% and a return on equity of 21.63%. During the same quarter last year, the company posted $5.09 EPS. As a group, research analysts predict that The Hanover Insurance Group, Inc. will post 20.80 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.80 dividend on an annualized basis and a yield of 1.5%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 18.17%.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Dennis Kerrigan sold 6,551 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the transaction, the executive vice president owned 12,003 shares of the company’s stock, valued at approximately $2,650,142.37. This trade represents a 35.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Several large investors have recently modified their holdings of the company. Basecamp Wealth Advisors LLC grew its holdings in The Hanover Insurance Group by 19.1% in the first quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 55 shares during the period. Quadrant Capital Group LLC increased its stake in The Hanover Insurance Group by 0.8% in the third quarter. Quadrant Capital Group LLC now owns 6,841 shares of the insurance provider’s stock valued at $1,522,000 after purchasing an additional 56 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of The Hanover Insurance Group by 5.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider’s stock valued at $195,000 after purchasing an additional 59 shares during the period. Versant Capital Management Inc raised its holdings in shares of The Hanover Insurance Group by 7.1% during the third quarter. Versant Capital Management Inc now owns 922 shares of the insurance provider’s stock valued at $197,000 after purchasing an additional 61 shares during the period. Finally, World Investment Advisors raised its holdings in shares of The Hanover Insurance Group by 3.1% during the first quarter. World Investment Advisors now owns 2,359 shares of the insurance provider’s stock valued at $409,000 after purchasing an additional 71 shares during the period. 86.61% of the stock is owned by institutional investors and hedge funds.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.

The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers’ compensation and other specialized coverages.

The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.