The Hanover Insurance Group (NYSE:THG) Sets New 1-Year High – Here’s What Happened

The Hanover Insurance Group, Inc. (NYSE:THG)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $213.13 and last traded at $211.7750, with a volume of 434953 shares. The stock had previously closed at $212.61.

Wall Street Analyst Weigh In

THG has been the subject of several analyst reports. Royal Bank Of Canada lifted 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. Zacks Research raised The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Oppenheimer upped their price objective on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Morgan Stanley set a $195.00 price objective on shares of The Hanover Insurance Group in a research note on Friday, May 1st. Finally, Piper Sandler raised their target price on shares of The Hanover Insurance Group from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, The Hanover Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $207.00.

The Hanover Insurance Group Stock Up 0.1%

The firm has a 50 day simple moving average of $191.39 and a two-hundred day simple moving average of $181.56. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $7.45 billion, a P/E ratio of 10.72 and a beta of 0.30.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the company posted $3.87 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that The Hanover Insurance Group, Inc. will post 18.36 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.95 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.80 annualized dividend and a yield of 1.8%. The Hanover Insurance Group’s dividend payout ratio (DPR) is 19.12%.

The Hanover Insurance Group announced that its board has authorized a stock repurchase plan on Wednesday, May 13th that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at The Hanover Insurance Group

In other news, CEO John C. Roche sold 8,358 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.74, for a total value of $1,619,278.92. Following the sale, the chief executive officer directly owned 141,011 shares in the company, valued at approximately $27,319,471.14. This trade represents a 5.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Francisco Aristeguieta sold 1,000 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $195.37, for a total transaction of $195,370.00. Following the sale, the director directly owned 4,053 shares in the company, valued at $791,834.61. This trade represents a 19.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 29,508 shares of company stock valued at $5,704,651. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of institutional investors have recently added to or reduced their stakes in THG. JPL Wealth Management LLC acquired a new stake in The Hanover Insurance Group in the third quarter valued at approximately $26,000. Community Bank N.A. bought a new stake in shares of The Hanover Insurance Group during the third quarter worth $27,000. McMillan Office Inc. acquired a new position in shares of The Hanover Insurance Group during the fourth quarter worth $31,000. Entrust Financial LLC acquired a new stake in shares of The Hanover Insurance Group during the 4th quarter valued at $33,000. Finally, Clearstead Advisors LLC boosted its holdings in shares of The Hanover Insurance Group by 300.0% during the 3rd quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 150 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

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.