The Hanover Insurance Group (NYSE:THG) Trading Up 0.2% Following Dividend Announcement

The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) shares traded up 0.2% during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $163.57 and last traded at $162.86. 13,642 shares were traded during trading, a decline of 92% from the average session volume of 174,734 shares. The stock had previously closed at $162.52.

The newly announced dividend which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.90 dividend. This is a positive change from The Hanover Insurance Group's previous quarterly dividend of $0.85. The ex-dividend date is Friday, December 13th. This represents a $3.60 annualized dividend and a yield of 2.20%. The Hanover Insurance Group's payout ratio is currently 33.73%.

Wall Street Analyst Weigh In

THG has been the subject of several analyst reports. Janney Montgomery Scott downgraded shares of The Hanover Insurance Group from a "buy" rating to a "neutral" rating and set a $176.00 price target for the company. in a report on Thursday, November 21st. Bank of America upped 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 research report on Thursday, October 10th. Oppenheimer raised their price target on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an "outperform" rating in a report on Friday, November 1st. 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 report on Friday, November 1st. Finally, Keefe, Bruyette & Woods increased their price objective on The Hanover Insurance Group from $164.00 to $170.00 and gave the company a "market perform" rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $173.83.

The Hanover Insurance Group Trading Up 0.5 %

The business's 50 day simple moving average is $154.33 and its 200-day simple moving average is $140.92. The stock has a market capitalization of $5.88 billion, a P/E ratio of 16.20 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.40. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $0.19 EPS. The firm's revenue was up 3.2% on a year-over-year basis. As a group, analysts forecast that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current year.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 1,200 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $150.11, for a total value of $180,132.00. Following the completion of the transaction, the executive vice president now directly owns 85,983 shares in the company, valued at $12,906,908.13. This trade represents a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 30,551 shares of company stock worth $4,781,935. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Several large investors have recently made changes to their positions in THG. B. Riley Wealth Advisors Inc. acquired a new stake in The Hanover Insurance Group in the first quarter valued at $261,000. Tidal Investments LLC bought a new position in The Hanover Insurance Group during the first quarter worth about $867,000. Cetera Advisors LLC bought a new position in The Hanover Insurance Group during the first quarter worth about $208,000. Boston Partners increased its position in The Hanover Insurance Group by 111.8% during the first quarter. Boston Partners now owns 12,794 shares of the insurance provider's stock worth $1,739,000 after buying an additional 6,753 shares during the last quarter. Finally, Park Avenue Securities LLC raised its stake in The Hanover Insurance Group by 4.2% in the second quarter. Park Avenue Securities LLC now owns 4,871 shares of the insurance provider's stock valued at $611,000 after buying an additional 198 shares during the period. Institutional investors and hedge funds own 86.61% of the company's stock.

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.