The Hanover Insurance Group (NYSE:THG) Stock Price Breaks Above 200 Day Moving Average - Here's Why

Key Points

• THG shares broke above their 200-day moving average, reaching $219.32 and last trading near $217.43, compared with a 200-day average of $202.68.
• Analysts collectively rate the stock a “Moderate Buy”, with a consensus price target of $227.14, although Piper Sandler downgraded it to “Neutral” while other firms raised targets.
• The Hanover reported quarterly EPS of $5.31, well above the $3.84 consensus estimate, while revenue rose 4.6% year over year to $1.73 billion. The company also paid a $0.95 quarterly dividend, representing a 1.7% yield.

The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) shares passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $202.68 and traded as high as $219.32. The Hanover Insurance Group shares last traded at $217.4340, with a volume of 263,710 shares changing hands.

Analyst Ratings Changes

THG has been the topic of a number of research reports. Piper Sandler lowered shares of The Hanover Insurance Group from an "overweight" rating to a "neutral" rating and set a $220.00 target price on the stock. in a research report on Wednesday, July 15th. Zacks Research upgraded The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Citizens Jmp upped their price objective on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 29th. Morgan Stanley lifted their price target on The Hanover Insurance Group from $235.00 to $240.00 and gave the company an "equal weight" rating in a report on Wednesday, August 19th. Finally, Citigroup restated an "outperform" rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $227.14.

The Hanover Insurance Group Price Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The company has a 50-day moving average price of $224.94 and a 200-day moving average price of $202.68. The firm has a market capitalization of $7.57 billion, a P/E ratio of 10.38 and a beta of 0.26.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, beating analysts' consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company posted $4.35 earnings per share. The firm's revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts predict that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.80 annualized dividend and a yield of 1.7%. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 18.14%.

Insider Buying and Selling

In other news, EVP Dennis Kerrigan sold 6,551 shares of The Hanover Insurance Group stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the transaction, the executive vice president directly owned 12,003 shares of the company's stock, valued at $2,650,142.37. This trade represents a 35.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jane Carlin sold 1,000 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $231.50, for a total transaction of $231,500.00. Following the completion of the transaction, the director directly owned 2,270 shares of the company's stock, valued at $525,505. This trade represents a 30.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 9,655 shares of company stock valued at $2,145,846. Corporate insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in THG. Clearstead Trust LLC bought a new stake in shares of The Hanover Insurance Group in the second quarter worth about $36,000. Root Financial Partners LLC lifted its holdings in shares of The Hanover Insurance Group by 69.3% during the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider's stock valued at $41,000 after purchasing an additional 97 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of The Hanover Insurance Group by 146.2% during the 4th quarter. IFP Advisors Inc now owns 256 shares of the insurance provider's stock valued at $47,000 after purchasing an additional 152 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of The Hanover Insurance Group in the 2nd quarter valued at approximately $51,000. Finally, Basecamp Wealth Advisors LLC grew 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 valued at $59,000 after purchasing an additional 55 shares during the period. 86.61% of the stock is currently owned by institutional investors.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its offerings are designed for individuals, families, businesses and specialty-market customers, with a focus on helping policyholders manage risks involving property, automobiles, liability and business operations.

The company's personal lines business includes automobile, homeowners, renters, condominium, umbrella and related insurance products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.