The Hanover Insurance Group (NYSE:THG) Shares Gap Up Following Better-Than-Expected Earnings

Shares of The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $152.95, but opened at $159.11. The Hanover Insurance Group shares last traded at $159.57, with a volume of 19,552 shares trading hands.

The insurance provider reported $5.32 earnings per share (EPS) for the quarter, beating 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%.

The Hanover Insurance Group Increases Dividend

The business also recently disclosed 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 a boost from The Hanover Insurance Group's previous quarterly dividend of $0.85. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, December 13th. The Hanover Insurance Group's dividend payout ratio is 30.80%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on THG. Janney Montgomery Scott downgraded shares of The Hanover Insurance Group from a "buy" rating to a "neutral" rating and set a $176.00 target price for the company. in a report on Thursday, November 21st. BMO Capital Markets boosted their price objective on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Oppenheimer raised their target price on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. JMP Securities upped their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 31st. Finally, Barclays upgraded The Hanover Insurance Group to a "hold" rating in a research note on Friday, January 24th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $174.88.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 6,114 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $162.36, for a total value of $992,669.04. Following the sale, the executive vice president now directly owns 54,091 shares of the company's stock, valued at approximately $8,782,214.76. This represents a 10.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its holdings in The Hanover Insurance Group by 61.5% during the third quarter. Barclays PLC now owns 27,155 shares of the insurance provider's stock worth $4,022,000 after buying an additional 10,341 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of The Hanover Insurance Group during the 4th quarter worth about $201,000. BNP Paribas Financial Markets grew its position in shares of The Hanover Insurance Group by 104.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,967 shares of the insurance provider's stock valued at $1,772,000 after acquiring an additional 6,112 shares during the period. HighTower Advisors LLC increased its stake in shares of The Hanover Insurance Group by 82.4% in the 3rd quarter. HighTower Advisors LLC now owns 11,500 shares of the insurance provider's stock valued at $1,702,000 after purchasing an additional 5,194 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in The Hanover Insurance Group in the 4th quarter worth about $1,046,000. Hedge funds and other institutional investors own 86.61% of the company's stock.

The Hanover Insurance Group Stock Down 0.5 %

The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $155.75 and a 200-day simple moving average of $150.03. The company has a market cap of $5.96 billion, a PE ratio of 14.14 and a beta of 0.72.

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.