The Hanover Insurance Group (NYSE:THG) Stock Price Down 2.9% - Here's What Happened

The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) shares were down 2.9% during mid-day trading on Tuesday . The company traded as low as $153.60 and last traded at $154.08. Approximately 47,326 shares traded hands during trading, a decline of 73% from the average daily volume of 174,462 shares. The stock had previously closed at $158.72.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley initiated coverage on shares of The Hanover Insurance Group in a research report on Thursday, December 5th. They issued an "equal weight" rating and a $170.00 price target on the stock. Oppenheimer upped their target price on 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. Keefe, Bruyette & Woods raised their price target on 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. JMP Securities upped their price objective on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a "market outperform" rating in a research report on Thursday, October 31st. Finally, Janney Montgomery Scott lowered 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. Four investment 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.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $173.29.

The Hanover Insurance Group Stock Performance

The company has a market cap of $5.61 billion, a price-to-earnings ratio of 15.29 and a beta of 0.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.40 and a current ratio of 0.40. The stock's fifty day simple moving average is $155.50 and its two-hundred day simple moving average is $141.69.

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, beating analysts' consensus estimates of $2.65 by $0.40. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The firm's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. Equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 11.41 EPS for the current year.

The Hanover Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued 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 2.31%. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 33.73%.

Insider Buying and Selling at The Hanover Insurance Group

In related news, EVP Jeffrey M. Farber sold 300 shares of The Hanover Insurance Group stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $45,000.00. Following the sale, the executive vice president now owns 89,733 shares of the company's stock, valued at $13,459,950. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 30,551 shares of company stock valued at $4,781,935 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

Institutional Trading of The Hanover Insurance Group

A number of hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised 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 worth $1,772,000 after purchasing an additional 6,112 shares during the period. Markel Group Inc. lifted its holdings in The Hanover Insurance Group by 5.8% in the 3rd quarter. Markel Group Inc. now owns 254,000 shares of the insurance provider's stock valued at $37,620,000 after acquiring an additional 14,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in The Hanover Insurance Group by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 369,545 shares of the insurance provider's stock worth $54,733,000 after buying an additional 17,856 shares in the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of The Hanover Insurance Group during the 2nd quarter worth $681,000. Finally, Intech Investment Management LLC purchased a new stake in shares of The Hanover Insurance Group during the second quarter valued at $431,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.