The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $206.72 and traded as high as $226.35. The Hanover Insurance Group shares last traded at $225.9460, with a volume of 230,639 shares changing hands.
Wall Street Analyst Weigh In
A number of research firms recently commented on THG. Citigroup restated an "outperform" rating on shares of The Hanover Insurance Group in a report on Friday, July 10th. Keefe, Bruyette & Woods lifted their target price on shares of The Hanover Insurance Group from $222.00 to $232.00 and gave the company a "market perform" rating in a research note on Friday, September 18th. Citizens Jmp lifted their target price on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 29th. Oppenheimer reissued an "outperform" rating and issued a $260.00 target price on shares of The Hanover Insurance Group in a research report on Tuesday. Finally, Piper Sandler downgraded shares of The Hanover Insurance Group from an "overweight" rating to a "neutral" rating and set a $220.00 target price for the company. in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $231.43.
Check Out Our Latest Stock Analysis on The Hanover Insurance Group
The Hanover Insurance Group Price Performance
The company's 50-day simple moving average is $223.95 and its 200 day simple moving average is $206.72. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 10.79 and a beta of 0.23.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, topping analysts' consensus estimates of $3.84 by $1.47. The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.65 billion. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%. The business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.35 earnings per share. Equities research analysts forecast that The Hanover Insurance Group, Inc. will post 20.25 EPS for the current year.
The Hanover Insurance Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.7%. The Hanover Insurance Group's dividend payout ratio is currently 18.14%.
Insider Buying and Selling
In related news, EVP Dennis Kerrigan sold 6,551 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $220.79, for a total value of $1,446,395.29. Following the completion of the sale, the executive vice president directly owned 12,003 shares in the company, valued at approximately $2,650,142.37. The trade was a 35.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jane Carlin sold 1,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total value of $231,500.00. Following the sale, the director directly owned 2,270 shares of the company's stock, valued at $525,505. The trade was a 30.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,655 shares of company stock worth $2,145,846 over the last three months. 2.80% of the stock is owned by company insiders.
Hedge Funds Weigh In On The Hanover Insurance Group
Institutional investors have recently modified their holdings of the company. Mather Group LLC. bought a new position in shares of The Hanover Insurance Group in the third quarter worth about $29,000. Clearstead Trust LLC acquired a new position in shares of The Hanover Insurance Group during the second quarter worth approximately $36,000. Root Financial Partners LLC grew its stake in shares of The Hanover Insurance Group by 69.3% in the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider's stock worth $41,000 after acquiring an additional 97 shares during the last quarter. Elevation Wealth Partners LLC increased its position in The Hanover Insurance Group by 106.4% during the third quarter. Elevation Wealth Partners LLC now owns 194 shares of the insurance provider's stock worth $42,000 after acquiring an additional 100 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in The Hanover Insurance Group during the second quarter worth $51,000. Institutional investors own 86.61% of the company's stock.
About The Hanover Insurance Group
(
Get Free Report)
The Hanover Insurance Group, Inc NYSE: THG is a property and casualty insurance holding company headquartered in Worcester, Massachusetts. Founded in 1852, the company operates through a network of independent agents and provides insurance products and services primarily in the United States.
The company's business is organized around personal, commercial and specialty insurance. Its personal lines include automobile, homeowners, condominium, renters and umbrella coverage. Commercial offerings include property, liability, workers' compensation, commercial automobile and package policies for small and middle-market businesses, while specialty products serve selected industries and professional risks.
The Hanover also provides risk-management resources, claims services and related support to policyholders and agents.
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