The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $122.18 and last traded at $122.76, with a volume of 51384 shares. The stock had previously closed at $127.24.
Analysts Set New Price Targets
Several research firms have issued reports on THG. JMP Securities reissued a “market outperform” rating and set a $170.00 price target on shares of The Hanover Insurance Group in a report on Friday, February 3rd. Morgan Stanley increased their target price on shares of The Hanover Insurance Group from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 22nd. StockNews.com started coverage on shares of The Hanover Insurance Group in a report on Thursday. They set a “hold” rating on the stock. Piper Sandler increased their price objective on shares of The Hanover Insurance Group from $144.00 to $151.00 in a research note on Tuesday, January 10th. Finally, BMO Capital Markets initiated coverage on shares of The Hanover Insurance Group in a research note on Thursday, January 19th. They set a “market perform” rating and a $141.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $155.20.
The Hanover Insurance Group Stock Performance
The firm has a market capitalization of $4.33 billion, a PE ratio of 37.87, a price-to-earnings-growth ratio of 0.33 and a beta of 0.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.39 and a current ratio of 0.39. The business’s fifty day simple moving average is $136.29 and its 200-day simple moving average is $137.07.
The Hanover Insurance Group (NYSE:THG – Get Rating) last posted its earnings results on Wednesday, February 1st. The insurance provider reported ($1.05) earnings per share for the quarter, meeting the consensus estimate of ($1.05). The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.30 billion. The Hanover Insurance Group had a net margin of 2.12% and a return on equity of 7.98%. The Hanover Insurance Group’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $3.38 earnings per share. As a group, equities research analysts expect that The Hanover Insurance Group, Inc. will post 9.72 EPS for the current year.
The Hanover Insurance Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be given a $0.81 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.67%. The Hanover Insurance Group’s dividend payout ratio is currently 100.93%.
Insider Buying and Selling at The Hanover Insurance Group
In other news, SVP Warren E. Barnes sold 862 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $138.51, for a total transaction of $119,395.62. Following the sale, the senior vice president now directly owns 4,075 shares of the company’s stock, valued at approximately $564,428.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On The Hanover Insurance Group
A number of institutional investors and hedge funds have recently made changes to their positions in THG. Norges Bank bought a new position in shares of The Hanover Insurance Group in the 4th quarter valued at about $51,392,000. Channing Capital Management LLC boosted its holdings in shares of The Hanover Insurance Group by 263.4% in the 3rd quarter. Channing Capital Management LLC now owns 358,902 shares of the insurance provider’s stock worth $45,990,000 after purchasing an additional 260,147 shares during the period. Victory Capital Management Inc. increased its position in shares of The Hanover Insurance Group by 26.5% during the 3rd quarter. Victory Capital Management Inc. now owns 921,752 shares of the insurance provider’s stock valued at $118,113,000 after purchasing an additional 192,809 shares during the last quarter. London Co. of Virginia raised its holdings in The Hanover Insurance Group by 43.8% during the 3rd quarter. London Co. of Virginia now owns 452,387 shares of the insurance provider’s stock valued at $57,969,000 after buying an additional 137,744 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in The Hanover Insurance Group by 15.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 945,898 shares of the insurance provider’s stock worth $127,819,000 after buying an additional 126,287 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.
About The Hanover Insurance Group
(Get Rating)
The Hanover Insurance Group, Inc is a holding company that engages in the provision of property and casualty products and services. It operates through the following segments: Commercial Lines, Personal Lines and Other. The Commercial Lines segment includes commercial multiple peril, commercial automobile, workers compensation and other commercial coverage, such as specialty program business, inland marine, management and professional liability and surety.
Featured Stories
Receive News & Ratings for The Hanover Insurance Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for The Hanover Insurance Group and related companies with MarketBeat.com’s FREE daily email newsletter.
