The Hanover Insurance Group (NYSE:THG) Hits New 52-Week High – Time to Buy?

The Hanover Insurance Group, Inc. (NYSE:THG) reached a new 52-week high on Friday . The company traded as high as $165.80 and last traded at $165.62, with a volume of 15840 shares changing hands. The stock had previously closed at $164.27.

Analyst Ratings Changes

A number of analysts have recently weighed in on THG shares. JMP Securities increased 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 note on Thursday, October 31st. Piper Sandler raised their price target on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Janney Montgomery Scott lowered shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 target price for the company. in a report on Thursday, November 21st. Keefe, Bruyette & Woods boosted their price target on The Hanover Insurance Group from $164.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Finally, Oppenheimer lifted their price objective on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.83.

The Hanover Insurance Group Price Performance

The firm has a fifty day moving average of $153.40 and a two-hundred day moving average of $140.27. The stock has a market capitalization of $5.97 billion, a P/E ratio of 16.30 and a beta of 0.70. 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) 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 company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The Hanover Insurance Group’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. On average, analysts predict that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Friday, September 13th. The Hanover Insurance Group’s payout ratio is presently 33.73%.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 300 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 89,733 shares of the company’s stock, valued at $13,459,950. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 30,551 shares of company stock valued at $4,781,935 over the last quarter. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of hedge funds have recently made changes to their positions in THG. Captrust Financial Advisors grew its position in The Hanover Insurance Group by 4.7% in the 3rd quarter. Captrust Financial Advisors now owns 1,822 shares of the insurance provider’s stock valued at $270,000 after acquiring an additional 81 shares in the last quarter. Lecap Asset Management Ltd. grew its stake in shares of The Hanover Insurance Group by 2.0% in the third quarter. Lecap Asset Management Ltd. now owns 4,202 shares of the insurance provider’s stock worth $622,000 after acquiring an additional 84 shares in the last quarter. Lowe Brockenbrough & Co. Inc. increased its position in shares of The Hanover Insurance Group by 0.6% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 14,693 shares of the insurance provider’s stock worth $2,176,000 after acquiring an additional 91 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of The Hanover Insurance Group by 4.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,227 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 97 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in The Hanover Insurance Group by 8.7% in the second quarter. Signaturefd LLC now owns 1,336 shares of the insurance provider’s stock valued at $168,000 after purchasing an additional 107 shares during the period. Hedge funds and other 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.