StockNews.com downgraded shares of The Hanover Insurance Group (NYSE:THG – Free Report) from a buy rating to a hold rating in a report published on Wednesday.
Several other research analysts also recently commented on THG. JMP Securities dropped their price target on The Hanover Insurance Group from $160.00 to $150.00 and set a market outperform rating on the stock in a research report on Friday, October 13th. Piper Sandler boosted their target price on shares of The Hanover Insurance Group from $138.00 to $143.00 and gave the stock an overweight rating in a research report on Friday, November 3rd. Finally, Oppenheimer began coverage on shares of The Hanover Insurance Group in a report on Thursday, November 16th. They issued an outperform rating and a $135.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of Moderate Buy and an average price target of $134.00.
Get Our Latest Analysis on THG
The Hanover Insurance Group Price Performance
Shares of THG opened at $124.20 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $4.44 billion, a PE ratio of -52.41, a PEG ratio of 0.31 and a beta of 0.66. The firm’s 50 day moving average price is $121.19 and its 200 day moving average price is $114.70. The Hanover Insurance Group has a twelve month low of $103.82 and a twelve month high of $148.78.
The Hanover Insurance Group (NYSE:THG – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a negative net margin of 1.42% and a negative return on equity of 4.16%. The Hanover Insurance Group’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 EPS. As a group, research analysts expect that The Hanover Insurance Group will post 0.81 EPS for the current fiscal year.
The Hanover Insurance Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a $0.85 dividend. This is a boost from The Hanover Insurance Group’s previous quarterly dividend of $0.81. This represents a $3.40 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Thursday, December 14th. The Hanover Insurance Group’s dividend payout ratio (DPR) is -143.46%.
Institutional Investors Weigh In On The Hanover Insurance Group
Institutional investors and hedge funds have recently bought and sold shares of the business. M&T Bank Corp increased its stake in The Hanover Insurance Group by 3.8% in the third quarter. M&T Bank Corp now owns 2,590 shares of the insurance provider’s stock valued at $333,000 after acquiring an additional 96 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of The Hanover Insurance Group by 1.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,837 shares of the insurance provider’s stock worth $759,000 after buying an additional 100 shares in the last quarter. Congress Asset Management Co. MA lifted its position in shares of The Hanover Insurance Group by 0.6% during the 2nd quarter. Congress Asset Management Co. MA now owns 19,853 shares of the insurance provider’s stock worth $2,244,000 after buying an additional 109 shares during the period. Assetmark Inc. boosted its stake in The Hanover Insurance Group by 13.8% in the 3rd quarter. Assetmark Inc. now owns 933 shares of the insurance provider’s stock valued at $104,000 after buying an additional 113 shares in the last quarter. Finally, First Republic Investment Management Inc. grew its position in The Hanover Insurance Group by 3.1% in the second quarter. First Republic Investment Management Inc. now owns 3,804 shares of the insurance provider’s stock valued at $430,000 after acquiring an additional 114 shares during the period. Institutional investors own 84.89% of the company’s stock.
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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