The Hanover Insurance Group (NYSE:THG) Sets New 1-Year High Following Analyst Upgrade

The Hanover Insurance Group, Inc. (NYSE:THG) hit a new 52-week high during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $165.00 to $170.00. Morgan Stanley currently has an equal weight rating on the stock. The Hanover Insurance Group traded as high as $166.98 and last traded at $166.12, with a volume of 456755 shares trading hands. The stock had previously closed at $160.23.

Several other equities analysts have also recently issued reports on THG. JMP Securities lifted their price objective on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Bank of America lifted their price target on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Janney Montgomery Scott downgraded shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective on the stock. in a research report on Thursday, November 21st. BMO Capital Markets lifted their price objective on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, Piper Sandler increased their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $174.88.

Insiders Place Their Bets

In other news, EVP Jeffrey M. Farber sold 6,114 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $162.36, for a total value of $992,669.04. Following the transaction, the executive vice president now directly owns 54,091 shares in the company, valued at $8,782,214.76. This trade represents a 10.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 12,100 shares of company stock valued at $1,951,223. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Several hedge funds have recently modified their holdings of THG. True Wealth Design LLC bought a new stake in shares of The Hanover Insurance Group in the third quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in shares of The Hanover Insurance Group in the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of The Hanover Insurance Group during the third quarter worth about $30,000. Venturi Wealth Management LLC grew its stake in The Hanover Insurance Group by 49.5% in the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 90 shares in the last quarter. Finally, Eagle Bay Advisors LLC increased its holdings in The Hanover Insurance Group by 502.1% in the fourth quarter. Eagle Bay Advisors LLC now owns 283 shares of the insurance provider’s stock valued at $44,000 after buying an additional 236 shares during the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

The Hanover Insurance Group Price Performance

The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 16.48 and a beta of 0.72. The company has a 50 day simple moving average of $155.71 and a 200-day simple moving average of $149.69. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share for the quarter, beating the consensus estimate of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. As a group, research analysts anticipate that The Hanover Insurance Group, Inc. will post 11.46 EPS for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.90 dividend. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.85. This represents a $3.60 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Friday, December 13th. The Hanover Insurance Group’s payout ratio is presently 35.71%.

The Hanover Insurance Group Company Profile

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.