The Hanover Insurance Group (NYSE:THG) Sets New 12-Month High Following Analyst Upgrade

The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) shares reached a new 52-week high on Thursday after Keefe, Bruyette & Woods raised their price target on the stock from $176.00 to $179.00. Keefe, Bruyette & Woods currently has a market perform 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 traded. The stock had previously closed at $160.23.

Other equities analysts have also issued reports about the stock. Oppenheimer boosted their price target on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. BMO Capital Markets boosted their target price on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Janney Montgomery Scott lowered shares of The Hanover Insurance Group from a "buy" rating to a "neutral" rating and set a $176.00 target price on the stock. in a report on Thursday, November 21st. Piper Sandler boosted their target price on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Finally, JMP Securities boosted their target price 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. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $175.25.

Hedge Funds Weigh In On The Hanover Insurance Group

Several large investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its holdings in shares of The Hanover Insurance Group by 9.0% in the 4th quarter. Parallel Advisors LLC now owns 3,501 shares of the insurance provider's stock worth $542,000 after acquiring an additional 288 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new position in shares of The Hanover Insurance Group in the 4th quarter worth approximately $72,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of The Hanover Insurance Group by 9.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,276 shares of the insurance provider's stock worth $971,000 after acquiring an additional 517 shares during the last quarter. Ironwood Investment Management LLC lifted its holdings in shares of The Hanover Insurance Group by 0.9% in the 4th quarter. Ironwood Investment Management LLC now owns 9,703 shares of the insurance provider's stock worth $1,501,000 after acquiring an additional 85 shares during the last quarter. Finally, Vestcor Inc increased its stake in The Hanover Insurance Group by 1,526.6% during the 4th quarter. Vestcor Inc now owns 16,233 shares of the insurance provider's stock worth $2,511,000 after buying an additional 15,235 shares during the period. 86.61% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Stock Performance

The firm's 50 day moving average is $155.74 and its two-hundred day moving average is $150.51. The stock has a market capitalization of $5.83 billion, a PE ratio of 13.85 and a beta of 0.72. 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 Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share 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%. As a group, research analysts predict that The Hanover Insurance Group, Inc. will post 14.11 earnings per share for the current year.

The Hanover Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $0.90 per share. This is an increase from The Hanover Insurance Group's previous quarterly dividend of $0.85. This represents a $3.60 annualized dividend and a yield of 2.22%. The ex-dividend date was Friday, December 13th. The Hanover Insurance Group's dividend payout ratio is presently 30.80%.

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.