The Hanover Insurance Group, Inc. (NYSE:THG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

The Hanover Insurance Group, Inc. (NYSE:THG) has earned an average rating of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $210.5714.

A number of research firms recently issued reports on THG. Oppenheimer boosted their price objective on The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Royal Bank Of Canada raised their target price on The Hanover Insurance Group from $190.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a report on Thursday, April 30th. BMO Capital Markets cut The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and upped their price target for the company from $194.00 to $203.00 in a research report on Tuesday, May 19th. Finally, Zacks Research upgraded shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th.

Insider Activity

In related news, Director Cynthia Egan sold 3,400 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $188.50, for a total transaction of $640,900.00. Following the completion of the transaction, the director directly owned 9,359 shares in the company, valued at $1,764,171.50. The trade was a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Francisco Aristeguieta sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $195.37, for a total value of $195,370.00. Following the completion of the transaction, the director owned 4,053 shares in the company, valued at $791,834.61. This represents a 19.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 29,508 shares of company stock worth $5,704,651. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of THG. First Trust Advisors LP raised its holdings in shares of The Hanover Insurance Group by 28.5% during the 3rd quarter. First Trust Advisors LP now owns 639,264 shares of the insurance provider’s stock valued at $116,110,000 after buying an additional 141,835 shares in the last quarter. Legato Capital Management LLC purchased a new stake in The Hanover Insurance Group during the fourth quarter valued at about $1,238,000. Capula Management Ltd purchased a new stake in The Hanover Insurance Group during the third quarter valued at about $1,877,000. UBS Group AG grew its stake in shares of The Hanover Insurance Group by 58.7% during the fourth quarter. UBS Group AG now owns 149,300 shares of the insurance provider’s stock valued at $27,288,000 after buying an additional 55,220 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of The Hanover Insurance Group in the fourth quarter worth about $4,926,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Performance

THG traded up $3.22 on Tuesday, hitting $223.41. The company’s stock had a trading volume of 21,269 shares, compared to its average volume of 326,270. The Hanover Insurance Group has a 12 month low of $160.97 and a 12 month high of $224.99. The firm has a market cap of $7.82 billion, a P/E ratio of 11.20 and a beta of 0.28. 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 company’s 50 day simple moving average is $195.91 and its 200-day simple moving average is $183.02.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the business posted $3.87 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts forecast that The Hanover Insurance Group will post 18.36 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.95 dividend. The ex-dividend date was Friday, June 12th. This represents a $3.80 annualized dividend and a yield of 1.7%. The Hanover Insurance Group’s dividend payout ratio is currently 19.12%.

The Hanover Insurance Group declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 13th that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the insurance provider to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.