Hanover Insurance Group Inc (NYSE:THG) has earned an average rating of “Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $131.93.
Several brokerages have issued reports on THG. Zacks Investment Research raised Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a research report on Tuesday, May 7th. Compass Point began coverage on Hanover Insurance Group in a research report on Friday, March 1st. They issued a “buy” rating and a $118.71 target price on the stock.
In other news, insider Ann Kirkpatrick Tripp sold 3,515 shares of Hanover Insurance Group stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $121.78, for a total transaction of $428,056.70. Following the transaction, the insider now directly owns 18,285 shares of the company’s stock, valued at approximately $2,226,747.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider J Kendall Huber sold 23,261 shares of Hanover Insurance Group stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $121.51, for a total value of $2,826,444.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,553 shares of company stock worth $4,076,281. Insiders own 1.65% of the company’s stock.
Several hedge funds have recently bought and sold shares of THG. Norges Bank purchased a new position in shares of Hanover Insurance Group during the 4th quarter valued at about $67,981,000. First Trust Advisors LP lifted its holdings in Hanover Insurance Group by 950.7% in the 1st quarter. First Trust Advisors LP now owns 279,290 shares of the insurance provider’s stock worth $31,887,000 after purchasing an additional 252,709 shares in the last quarter. Chartwell Investment Partners LLC lifted its holdings in Hanover Insurance Group by 257.7% in the 1st quarter. Chartwell Investment Partners LLC now owns 131,971 shares of the insurance provider’s stock worth $15,067,000 after purchasing an additional 95,073 shares in the last quarter. Hancock Whitney Corp lifted its holdings in Hanover Insurance Group by 109.1% in the 1st quarter. Hancock Whitney Corp now owns 168,282 shares of the insurance provider’s stock worth $19,213,000 after purchasing an additional 87,819 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in Hanover Insurance Group by 1,037.5% in the 4th quarter. Two Sigma Investments LP now owns 89,859 shares of the insurance provider’s stock worth $10,493,000 after purchasing an additional 81,959 shares in the last quarter. 85.15% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:THG traded up $0.62 on Friday, hitting $127.45. The stock had a trading volume of 9,688 shares, compared to its average volume of 205,329. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 18.76 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. Hanover Insurance Group has a 52-week low of $104.59 and a 52-week high of $131.44.
Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, May 1st. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.17. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Hanover Insurance Group had a return on equity of 11.02% and a net margin of 9.19%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $1.54 earnings per share. As a group, equities analysts forecast that Hanover Insurance Group will post 8.1 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.88%. Hanover Insurance Group’s payout ratio is currently 35.35%.
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 in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.
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