The Hanover Insurance Group (NYSE:THG) Trading Down 0.4% – What’s Next?

Shares of The Hanover Insurance Group, Inc. (NYSE:THG) dropped 0.4% on Wednesday . The company traded as low as $162.17 and last traded at $162.66. Approximately 9,128 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 174,669 shares. The stock had previously closed at $163.28.

Wall Street Analysts Forecast Growth

THG has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Bank of America lifted their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Janney Montgomery Scott lowered The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target on the stock. in a research note on Thursday, November 21st. Keefe, Bruyette & Woods raised their price target on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Finally, JMP Securities raised their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.83.

The Hanover Insurance Group Stock Up 0.5 %

The firm has a market capitalization of $5.91 billion, a P/E ratio of 16.14 and a beta of 0.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a fifty day moving average price of $154.33 and a two-hundred day moving average price of $140.92.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results 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 Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the firm posted $0.19 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Research analysts forecast that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current year.

The Hanover Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.90 dividend. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The ex-dividend date is Friday, December 13th. This represents a $3.60 annualized dividend and a dividend yield of 2.19%. The Hanover Insurance Group’s dividend payout ratio is 33.73%.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 300 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was 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 $13,459,950. This represents a 0.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 30,551 shares of company stock valued at $4,781,935 over the last three months. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted 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 acquiring an additional 143,339 shares in the last quarter. State Street Corp boosted its stake in The Hanover Insurance Group by 0.3% during the 3rd quarter. State Street Corp now owns 1,239,701 shares of the insurance provider’s stock valued at $183,612,000 after purchasing an additional 3,780 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in The Hanover Insurance Group by 0.5% during the 3rd 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 period. American Century Companies Inc. boosted its stake in The Hanover Insurance Group by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 802,033 shares of the insurance provider’s stock valued at $100,607,000 after purchasing an additional 33,249 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in The Hanover Insurance Group by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 798,109 shares of the insurance provider’s stock valued at $100,111,000 after acquiring an additional 30,536 shares in the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

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.