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

Shares of The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) hit a new 52-week high on Tuesday after Piper Sandler raised their price target on the stock from $190.00 to $205.00. Piper Sandler currently has an overweight rating on the stock. The Hanover Insurance Group traded as high as $176.16 and last traded at $175.74, with a volume of 44109 shares traded. The stock had previously closed at $173.95.

A number of other brokerages also recently weighed in on THG. Morgan Stanley increased their price target on The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. BMO Capital Markets lifted their target price on The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods boosted their price target on The Hanover Insurance Group from $176.00 to $179.00 and gave the company a "market perform" rating in a research note on Monday, February 10th. Finally, Barclays upgraded shares of The Hanover Insurance Group to a "hold" rating in a research report on Friday, January 24th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $179.00.

Insider Buying and Selling

In related news, CEO John C. Roche sold 200 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $175.01, for a total transaction of $35,002.00. Following the completion of the transaction, the chief executive officer now owns 124,278 shares in the company, valued at approximately $21,749,892.78. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is currently owned by corporate insiders.

Institutional Trading of The Hanover Insurance Group

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in The Hanover Insurance Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 3,613,952 shares of the insurance provider's stock worth $558,934,000 after buying an additional 23,565 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of The Hanover Insurance Group by 0.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,489,391 shares of the insurance provider's stock valued at $230,349,000 after purchasing an additional 4,799 shares during the last quarter. State Street Corp raised its position in The Hanover Insurance Group by 0.3% in the 3rd quarter. State Street Corp now owns 1,239,701 shares of the insurance provider's stock worth $183,612,000 after purchasing an additional 3,780 shares during the period. Franklin Resources Inc. lifted its stake in The Hanover Insurance Group by 28.6% in the fourth quarter. Franklin Resources Inc. now owns 1,217,919 shares of the insurance provider's stock worth $188,363,000 after purchasing an additional 270,491 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of The Hanover Insurance Group by 4.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,087,786 shares of the insurance provider's stock valued at $168,237,000 after buying an additional 43,918 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors.

The Hanover Insurance Group Stock Performance

The company has a market cap of $6.30 billion, a P/E ratio of 15.04 and a beta of 0.65. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.40 and a current ratio of 0.40. The business has a 50 day moving average price of $163.82 and a two-hundred day moving average price of $157.46.

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The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. On average, sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Friday, March 14th. The Hanover Insurance Group's payout ratio is 30.80%.

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.

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