The Hanover Insurance Group (NYSE:THG) Sets New 52-Week High – Still a Buy?

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 $222.07 and last traded at $220.90, with a volume of 17566 shares traded. The stock had previously closed at $221.61.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on THG shares. Citizens Jmp raised their target price on The Hanover Insurance Group from $200.00 to $205.00 and gave the company a “market outperform” rating in a report on Thursday, April 30th. Zacks Research upgraded The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. BMO Capital Markets downgraded The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $194.00 to $203.00 in a research note on Tuesday, May 19th. Piper Sandler boosted their target price on The Hanover Insurance Group from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, Oppenheimer upped their target price on 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. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $211.86.

The Hanover Insurance Group Trading Down 0.9%

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 has a 50-day moving average price of $196.71 and a 200-day moving average price of $183.26. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 10.98 and a beta of 0.28.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.14 by $1.11. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.87 EPS. Research analysts predict that The Hanover Insurance Group, Inc. will post 18.36 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio is currently 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 shares. This repurchase authorization allows the insurance provider to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at The Hanover Insurance Group

In other news, EVP Denise Lowsley sold 4,175 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $191.73, for a total transaction of $800,472.75. Following the transaction, the executive vice president owned 3,883 shares in the company, valued at approximately $744,487.59. The trade was a 51.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John C. Roche sold 8,358 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.74, for a total transaction of $1,619,278.92. Following the transaction, the chief executive officer directly owned 141,011 shares of the company’s stock, valued at $27,319,471.14. This represents a 5.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,508 shares of company stock valued at $5,704,651 in the last three months. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Basecamp Wealth Advisors LLC lifted its position in shares of The Hanover Insurance Group by 19.1% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 55 shares during the period. EverSource Wealth Advisors LLC increased its position 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. Crossmark Global Holdings Inc. raised its stake in shares of The Hanover Insurance Group by 3.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider’s stock valued at $344,000 after purchasing an additional 64 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of The Hanover Insurance Group by 3.4% in the fourth quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider’s stock valued at $370,000 after purchasing an additional 66 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in The Hanover Insurance Group by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider’s stock worth $2,183,000 after purchasing an additional 66 shares during the period. 86.61% of the stock is currently owned by institutional investors.

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.