The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $200.09 and last traded at $199.62, with a volume of 4150 shares changing hands. The stock had previously closed at $197.65.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on THG shares. Citizens Jmp upped their target price on The Hanover Insurance Group from $200.00 to $205.00 and gave the stock a "market outperform" rating in a research note on Thursday, April 30th. Zacks Research upgraded shares of The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. Royal Bank Of Canada upped their price objective on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the company a "sector perform" rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods increased their target price on shares of The Hanover Insurance Group from $208.00 to $211.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. Finally, Piper Sandler boosted their price target on shares of The Hanover Insurance Group from $212.00 to $220.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $207.00.
Read Our Latest Stock Report on THG
The Hanover Insurance Group Stock Performance
The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market cap of $6.99 billion, a PE ratio of 10.04 and a beta of 0.30. The business has a 50 day moving average price of $186.63 and a two-hundred day moving average price of $180.19.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, beating analysts' consensus estimates of $4.14 by $1.11. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The firm's revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.87 EPS. As a group, equities research analysts forecast that The Hanover Insurance Group, Inc. will post 18.36 EPS for the current fiscal year.
The Hanover Insurance Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, June 12th. The Hanover Insurance Group's dividend payout ratio is currently 19.12%.
The Hanover Insurance Group announced that its board has initiated a stock buyback program on Wednesday, May 13th that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 10.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.
Insider Buying and Selling at The Hanover Insurance Group
In related news, Director Cynthia Egan sold 3,400 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $188.50, for a total transaction of $640,900.00. Following the completion of the transaction, the director owned 9,359 shares in the company, valued at $1,764,171.50. This represents a 26.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Denise Lowsley sold 4,175 shares of The Hanover Insurance Group stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $191.73, for a total transaction of $800,472.75. Following the completion of the sale, the executive vice president owned 3,883 shares in the company, valued at approximately $744,487.59. This trade represents a 51.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,508 shares of company stock worth $5,704,651 over the last three months. 2.80% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On The Hanover Insurance Group
A number of large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in The Hanover Insurance Group by 5.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider's stock worth $195,000 after buying an additional 59 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in The Hanover Insurance Group by 3.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider's stock valued at $344,000 after acquiring an additional 64 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of The Hanover Insurance Group by 3.4% during the 4th quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider's stock worth $370,000 after acquiring an additional 66 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of The Hanover Insurance Group by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider's stock worth $2,183,000 after acquiring an additional 66 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its position in shares of The Hanover Insurance Group by 5.5% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,294 shares of the insurance provider's stock worth $234,000 after acquiring an additional 68 shares in the last quarter. 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 company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers' compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.
In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.
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