The Hanover Insurance Group (NYSE:THG) Stock Price Up 0.8% – Time to Buy?

Shares of The Hanover Insurance Group, Inc. (NYSE:THG) traded up 0.8% during mid-day trading on Friday . The company traded as high as $155.52 and last traded at $155.37. 21,610 shares changed hands during trading, a decline of 88% from the average session volume of 174,956 shares. The stock had previously closed at $154.19.

Analyst Ratings Changes

Several research firms have recently commented on THG. Piper Sandler upped their price objective on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods upped their price target on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Bank of America increased their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. JMP Securities lifted their price target on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Finally, Oppenheimer increased their price objective on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.29.

The Hanover Insurance Group Trading Up 0.3 %

The stock’s fifty day moving average price is $155.99 and its 200 day moving average price is $142.04. The stock has a market capitalization of $5.57 billion, a P/E ratio of 15.41 and a beta of 0.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.40 and a quick ratio of 0.40.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, topping the consensus estimate of $2.65 by $0.40. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business posted $0.19 EPS. The Hanover Insurance Group’s revenue was up 3.2% on a year-over-year basis. Research analysts forecast that The Hanover Insurance Group, Inc. will post 11.41 earnings per share for the current year.

The Hanover Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.60 dividend on an annualized basis and a yield of 2.33%. This is a boost from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The Hanover Insurance Group’s payout ratio is currently 33.73%.

Insider Buying and Selling at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 300 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $150.00, for a total transaction of $45,000.00. Following the sale, the executive vice president now directly owns 89,733 shares in the company, valued at $13,459,950. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 30,551 shares of company stock worth $4,781,935. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in The Hanover Insurance Group during the second quarter worth $25,000. True Wealth Design LLC purchased a new stake in The Hanover Insurance Group in the third quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in shares of The Hanover Insurance Group during the 3rd quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of The Hanover Insurance Group during the third quarter valued at about $30,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of The Hanover Insurance Group in the 2nd quarter valued at approximately $42,000. 86.61% of the stock is currently owned by institutional investors and hedge funds.

About The Hanover Insurance Group

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.