The Hanover Insurance Group, Inc. (NYSE:THG) Sees Large Increase in Short Interest

The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) was the recipient of a significant increase in short interest in 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. Approximately 1.6% of the company's stock are sold short. Based on an average trading volume of 251,200 shares, the days-to-cover ratio is currently 2.3 days.

Analyst Upgrades and Downgrades

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

Insider Activity at The Hanover Insurance Group

In related news, EVP Bryan J. Salvatore sold 10,526 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 25,864 shares of the company's stock, valued at approximately $4,308,942.40. This trade represents a 28.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Roche sold 301 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $175.00, for a total value of $52,675.00. Following the completion of the sale, the chief executive officer now owns 124,414 shares of the company's stock, valued at approximately $21,772,450. This trade represents a 0.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,027 shares of company stock valued at $1,841,309. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Institutional investors have recently bought and sold shares of the business. Clearstead Trust LLC acquired a new position in shares of The Hanover Insurance Group during the 1st quarter worth approximately $27,000. EverSource Wealth Advisors LLC raised its position in shares of The Hanover Insurance Group by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 102 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of The Hanover Insurance Group by 49.5% during the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider's stock worth $42,000 after buying an additional 90 shares during the last quarter. True Wealth Design LLC raised its holdings in The Hanover Insurance Group by 81.7% in the 4th quarter. True Wealth Design LLC now owns 307 shares of the insurance provider's stock valued at $47,000 after acquiring an additional 138 shares during the period. Finally, Versant Capital Management Inc lifted its position in The Hanover Insurance Group by 331.4% during the first quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider's stock worth $53,000 after acquiring an additional 232 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company's stock.

The Hanover Insurance Group Stock Down 1.3%

THG stock traded down $2.15 during mid-day trading on Tuesday, reaching $167.35. The company had a trading volume of 144,769 shares, compared to its average volume of 243,346. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 14.32 and a beta of 0.45. The Hanover Insurance Group has a 52 week low of $120.10 and a 52 week high of $178.68. The stock has a 50 day simple moving average of $166.83 and a two-hundred day simple moving average of $162.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.40 and a quick ratio of 0.40.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share for the quarter, topping analysts' consensus estimates of $3.58 by $0.29. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.55 billion. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.08 earnings per share. As a group, equities analysts predict that The Hanover Insurance Group will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Friday, June 13th. The Hanover Insurance Group's payout ratio is currently 29.98%.

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.

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