The Hanover Insurance Group (NYSE:THG) Sets New 52-Week High at $150.95

The Hanover Insurance Group, Inc. (NYSE:THG)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $150.95 and last traded at $149.07, with a volume of 24524 shares traded. The stock had previously closed at $149.58.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on THG shares. Keefe, Bruyette & Woods lifted their price target on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. JMP Securities raised their target price on The Hanover Insurance Group from $150.00 to $160.00 and gave the company a “market outperform” rating in a research report on Thursday, August 1st. Piper Sandler boosted their price target on The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Bank of America lowered their price target on The Hanover Insurance Group from $161.00 to $158.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $157.80.

The Hanover Insurance Group Price Performance

The business has a 50-day simple moving average of $138.47 and a two-hundred day simple moving average of $132.62. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 32.92 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share for the quarter, meeting the consensus estimate of $1.88. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.49 billion. The Hanover Insurance Group had a return on equity of 12.42% and a net margin of 4.44%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.91) earnings per share. As a group, research analysts predict that The Hanover Insurance Group, Inc. will post 10.85 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.85 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.32%. The Hanover Insurance Group’s dividend payout ratio is currently 76.23%.

Insider Buying and Selling

In related news, EVP Jeffrey M. Farber sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $150.11, for a total transaction of $180,132.00. Following the completion of the sale, the executive vice president now directly owns 85,983 shares in the company, valued at $12,906,908.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jeffrey M. Farber sold 300 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 89,733 shares of the company’s stock, valued at $13,459,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey M. Farber sold 1,200 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $150.11, for a total value of $180,132.00. Following the completion of the transaction, the executive vice president now owns 85,983 shares of the company’s stock, valued at approximately $12,906,908.13. The disclosure for this sale can be found here. Insiders have sold 12,352 shares of company stock worth $1,766,623 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Institutional Trading of The Hanover Insurance Group

Hedge funds have recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in shares of The Hanover Insurance Group during the second quarter valued at approximately $25,000. Riverview Trust Co acquired a new stake in The Hanover Insurance Group during the 1st quarter valued at $31,000. Quarry LP purchased a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at $34,000. 1620 Investment Advisors Inc. acquired a new stake in shares of The Hanover Insurance Group in the second quarter worth $42,000. Finally, GHP Investment Advisors Inc. grew its holdings in shares of The Hanover Insurance Group by 64.9% during the second quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock valued at $54,000 after buying an additional 168 shares in the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

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.