The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $181.75 and last traded at $182.18, with a volume of 112277 shares trading hands. The stock had previously closed at $178.14.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on THG. JMP Securities set a $205.00 price target on The Hanover Insurance Group in a research report on Thursday, July 31st. Citigroup reaffirmed an "outperform" rating on shares of The Hanover Insurance Group in a research report on Thursday, July 31st. Morgan Stanley increased their price objective on The Hanover Insurance Group from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 price objective on the stock in a report on Wednesday, July 9th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $185.13.
Check Out Our Latest Stock Report on The Hanover Insurance Group
The Hanover Insurance Group Price Performance
The firm has a market capitalization of $6.24 billion, a P/E ratio of 11.49 and a beta of 0.46. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.37 and a current ratio of 0.37. The business has a 50 day simple moving average of $171.16 and a two-hundred day simple moving average of $168.52.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share for the quarter, topping analysts' consensus estimates of $3.07 by $1.28. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. The Hanover Insurance Group had a return on equity of 20.24% and a net margin of 8.67%.The company's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.88 EPS. On average, sell-side analysts expect that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.
The Hanover Insurance Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, September 12th. The Hanover Insurance Group's dividend payout ratio is currently 23.70%.
Hedge Funds Weigh In On The Hanover Insurance Group
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in The Hanover Insurance Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 3,635,173 shares of the insurance provider's stock worth $632,338,000 after acquiring an additional 21,221 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of The Hanover Insurance Group by 36.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider's stock valued at $217,505,000 after purchasing an additional 339,896 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in The Hanover Insurance Group by 45.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 907,760 shares of the insurance provider's stock worth $157,905,000 after acquiring an additional 282,233 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in The Hanover Insurance Group by 52.9% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 558,000 shares of the insurance provider's stock worth $94,787,000 after acquiring an additional 193,000 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in The Hanover Insurance Group by 21.0% during the 2nd quarter. AQR Capital Management LLC now owns 553,815 shares of the insurance provider's stock worth $93,190,000 after acquiring an additional 96,006 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors.
About The Hanover Insurance Group
(
Get Free Report)
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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