The Hanover Insurance Group (NYSE:THG) Shares Up 1.3% Following Analyst Upgrade

Shares of The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) traded up 1.3% on Thursday after BMO Capital Markets raised their price target on the stock from $161.00 to $180.00. BMO Capital Markets currently has an outperform rating on the stock. The Hanover Insurance Group traded as high as $153.07 and last traded at $152.09. 21,379 shares were traded during mid-day trading, a decline of 88% from the average session volume of 174,766 shares. The stock had previously closed at $150.10.

A number of other equities analysts also recently commented on THG. Piper Sandler boosted their price objective on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Bank of America upped their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. JMP Securities lifted their target price on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a "market outperform" rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods increased their price target on shares of 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. Finally, Morgan Stanley assumed 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 objective on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, The Hanover Insurance Group currently has an average rating of "Moderate Buy" and an average price target of $174.13.

Insider Buying and Selling at The Hanover Insurance Group

In related news, EVP Jeffrey M. Farber sold 12,000 shares of the business's stock in a transaction on Friday, October 18th. The shares were sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the completion of the transaction, the executive vice president now directly owns 66,091 shares in the company, valued at $10,249,392.28. The trade was a 15.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 29,051 shares of company stock worth $4,556,803. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of institutional investors have recently modified their holdings of the stock. True Wealth Design LLC acquired a new stake in The Hanover Insurance Group during the third quarter worth about $25,000. V Square Quantitative Management LLC purchased a new stake in The Hanover Insurance Group in the 3rd quarter worth approximately $26,000. Point72 Hong Kong Ltd acquired a new stake in shares of The Hanover Insurance Group during the 2nd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of The Hanover Insurance Group during the 3rd quarter valued at approximately $30,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of The Hanover Insurance Group in the 2nd quarter valued at $42,000. Hedge funds and other institutional investors own 86.61% of the company's stock.

The Hanover Insurance Group Price Performance

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 stock's fifty day moving average is $156.45 and its 200-day moving average is $142.74. The stock has a market capitalization of $5.53 billion, a PE ratio of 15.23 and a beta of 0.71.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.40. The firm had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The company's quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.19 EPS. As a group, equities analysts predict that The Hanover Insurance Group, Inc. will post 11.41 earnings per share for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.90 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.60 dividend on an annualized basis and a yield of 2.35%. This is a boost from The Hanover Insurance Group's previous quarterly dividend of $0.85. The Hanover Insurance Group's dividend payout ratio (DPR) is currently 35.71%.

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.