The Hanover Insurance Group (NYSE:THG) Stock Price Down 1.4% - Here's Why

Shares of The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) traded down 1.4% during trading on Monday . The stock traded as low as $158.70 and last traded at $158.70. 19,717 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 174,431 shares. The stock had previously closed at $160.92.

Wall Street Analyst Weigh In

Several research analysts have issued reports on THG shares. JMP Securities increased their price objective on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 31st. Bank of America lifted their price target on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Janney Montgomery Scott cut shares of The Hanover Insurance Group from a "buy" rating to a "neutral" rating and set a $176.00 price objective on the stock. in a research note on Thursday, November 21st. Piper Sandler raised their price target on 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, Keefe, Bruyette & Woods upped their price target on shares of 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. Four 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $173.29.

The Hanover Insurance Group Trading Down 1.4 %

The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 15.74 and a beta of 0.71. The business's fifty day moving average is $155.29 and its 200 day moving average is $141.51. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27.

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 for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned $0.19 earnings per share. The business's revenue was up 3.2% compared to the same quarter last year. Equities analysts predict that The Hanover Insurance Group, Inc. will post 11.41 earnings per share for the current year.

The Hanover Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 of this dividend is Friday, December 13th. This represents a $3.60 annualized dividend and a yield of 2.27%. The Hanover Insurance Group's dividend payout ratio is currently 33.73%.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 300 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $150.00, for a total value of $45,000.00. Following the transaction, the executive vice president now owns 89,733 shares of the company's stock, valued at approximately $13,459,950. This represents a 0.33 % 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. 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

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC grew its position in shares of The Hanover Insurance Group by 344.5% during the 3rd quarter. Tidal Investments LLC now owns 7,254 shares of the insurance provider's stock worth $1,074,000 after purchasing an additional 5,622 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in The Hanover Insurance Group in the 3rd quarter valued at $30,000. Sanctuary Advisors LLC lifted its position in shares of The Hanover Insurance Group by 35.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 4,013 shares of the insurance provider's stock valued at $656,000 after acquiring an additional 1,040 shares during the period. TD Private Client Wealth LLC grew its holdings in shares of The Hanover Insurance Group by 15.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the insurance provider's stock worth $174,000 after purchasing an additional 161 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of The Hanover Insurance Group by 2.6% in the third quarter. Geode Capital Management LLC now owns 660,272 shares of the insurance provider's stock worth $97,816,000 after purchasing an additional 16,800 shares during the period. Institutional investors own 86.61% of the company's stock.

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.

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