The Hanover Insurance Group, Inc. (NYSE:THG) Short Interest Update

The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) was the recipient of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 574,800 shares, an increase of 34.4% from the May 15th total of 427,700 shares. Based on an average daily trading volume, of 251,200 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.6% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Piper Sandler boosted their price target on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Wall Street Zen raised shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. JMP Securities upped their target price on The Hanover Insurance Group from $175.00 to $185.00 and gave the company a "market outperform" rating in a report on Thursday, May 1st. Keefe, Bruyette & Woods boosted their price objective on shares of The Hanover Insurance Group from $171.00 to $173.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley upped their price objective on shares of The Hanover Insurance Group from $163.00 to $170.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $179.50.

The Hanover Insurance Group Stock Up 0.7%

NYSE:THG traded up $1.13 during mid-day trading on Friday, hitting $168.05. 417,650 shares of the company's stock were exchanged, compared to its average volume of 213,726. The company has a market cap of $6.04 billion, a PE ratio of 13.99 and a beta of 0.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The Hanover Insurance Group has a one year low of $120.10 and a one year high of $178.68. The business has a fifty day moving average price of $167.69 and a 200 day moving average price of $162.78.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.87 EPS for the quarter, topping analysts' consensus estimates of $3.58 by $0.29. The Hanover Insurance Group had a return on equity of 18.23% and a net margin of 6.98%. The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same period in the previous year, the firm posted $3.08 EPS. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts predict that The Hanover Insurance Group will post 14.37 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.14%. The Hanover Insurance Group's dividend payout ratio is currently 29.98%.

Insider Buying and Selling at The Hanover Insurance Group

In other news, CEO John C. Roche sold 200 shares of The Hanover Insurance Group stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $175.01, for a total value of $35,002.00. Following the completion of the transaction, the chief executive officer now directly owns 124,278 shares in the company, valued at approximately $21,749,892.78. The trade was a 0.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bryan J. Salvatore sold 10,526 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total value of $1,753,631.60. Following the sale, the executive vice president now directly owns 25,864 shares in the company, valued at $4,308,942.40. This trade represents a 28.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,027 shares of company stock worth $1,841,309 over the last ninety days. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC lifted its holdings in shares of The Hanover Insurance Group by 0.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 7,163 shares of the insurance provider's stock valued at $1,092,000 after purchasing an additional 65 shares in the last quarter. HM Payson & Co. grew its holdings in The Hanover Insurance Group by 6.7% during the first quarter. HM Payson & Co. now owns 1,063 shares of the insurance provider's stock valued at $185,000 after purchasing an additional 67 shares during the period. Evergreen Capital Management LLC increased its holdings in The Hanover Insurance Group by 3.8% in the 1st quarter. Evergreen Capital Management LLC now owns 1,811 shares of the insurance provider's stock worth $315,000 after acquiring an additional 67 shares in the last quarter. AMG National Trust Bank raised its position in shares of The Hanover Insurance Group by 0.7% during the 4th quarter. AMG National Trust Bank now owns 10,776 shares of the insurance provider's stock valued at $1,658,000 after purchasing an additional 71 shares during the period. Finally, Ironwood Investment Management LLC raised its holdings in The Hanover Insurance Group by 0.9% during the fourth quarter. Ironwood Investment Management LLC now owns 9,703 shares of the insurance provider's stock valued at $1,501,000 after acquiring an additional 85 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, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.