The Hanover Insurance Group (NYSE:THG) Hits New 12-Month High – Still a Buy?

The Hanover Insurance Group, Inc. (NYSE:THG) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $158.77 and last traded at $158.77, with a volume of 1297 shares traded. The stock had previously closed at $150.15.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on THG shares. Oppenheimer lifted their price objective on The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. 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. Piper Sandler raised their price objective on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. JMP Securities upped their target price on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Finally, Bank of America increased their price target 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

The Hanover Insurance Group Trading Up 2.1 %

The stock has a market cap of $5.75 billion, a P/E ratio of 15.51 and a beta of 0.70. The stock’s 50-day moving average is $148.61 and its two-hundred day moving average is $137.13. 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 released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, beating the consensus estimate of $2.65 by $0.40. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. The business’s revenue was up 3.2% on a year-over-year basis. Equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 11.22 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 33.73%.

Insider Buying and Selling

In other The Hanover Insurance Group 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 value of $45,000.00. Following the completion of the transaction, the executive vice president now directly owns 89,733 shares of the company’s stock, valued at $13,459,950. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 300 shares of the business’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 transaction of $45,000.00. Following the sale, the executive vice president now directly owns 89,733 shares of the company’s stock, valued at $13,459,950. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathy S. Lane sold 1,884 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,303 shares of company stock worth $4,372,203. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On The Hanover Insurance Group

Several hedge funds have recently added to or reduced their stakes in the company. Pathstone Holdings LLC boosted its position in shares of The Hanover Insurance Group by 3.4% during the third quarter. Pathstone Holdings LLC now owns 26,204 shares of the insurance provider’s stock valued at $3,881,000 after buying an additional 854 shares during the period. Quest Partners LLC lifted its stake in shares of The Hanover Insurance Group by 707.5% during the 3rd quarter. Quest Partners LLC now owns 22,036 shares of the insurance provider’s stock worth $3,264,000 after acquiring an additional 19,307 shares during the last quarter. AMG National Trust Bank boosted its holdings in The Hanover Insurance Group by 99.5% during the 3rd quarter. AMG National Trust Bank now owns 10,705 shares of the insurance provider’s stock valued at $1,586,000 after acquiring an additional 5,339 shares during the period. Claro Advisors LLC grew its position in The Hanover Insurance Group by 6.9% in the 3rd quarter. Claro Advisors LLC now owns 5,127 shares of the insurance provider’s stock valued at $759,000 after acquiring an additional 333 shares during the last quarter. Finally, Natixis Advisors LLC increased its stake in The Hanover Insurance Group by 13.4% in the third quarter. Natixis Advisors LLC now owns 11,925 shares of the insurance provider’s stock worth $1,766,000 after purchasing an additional 1,408 shares during the period. 86.61% of the stock is currently owned by institutional investors.

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.