The Hanover Insurance Group (NYSE:THG) Sets New 52-Week High – Still a Buy?

The Hanover Insurance Group, Inc. (NYSE:THG)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $156.80 and last traded at $156.80, with a volume of 227 shares changing hands. The stock had previously closed at $155.21.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods upped their price objective on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Bank of America lifted their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of The Hanover Insurance Group in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.20.

The Hanover Insurance Group Stock Performance

The business’s 50 day simple moving average is $144.51 and its two-hundred day simple moving average is $135.15. The firm has a market capitalization of $5.64 billion, a P/E ratio of 34.80 and a beta of 0.69. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.31.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share for the quarter, meeting the consensus estimate of $1.88. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.49 billion. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.91) earnings per share. Sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 10.99 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, September 13th. The Hanover Insurance Group’s payout ratio is currently 76.23%.

Insiders Place Their Bets

In other news, 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 transaction of $252,889.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Warren E. Barnes sold 500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $138.25, for a total value of $69,125.00. Following the transaction, the senior vice president now owns 3,013 shares in the company, valued at $416,547.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathy S. Lane sold 1,884 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total transaction of $252,889.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,303 shares of company stock valued at $2,511,243. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd purchased a new stake in The Hanover Insurance Group in the second quarter worth about $25,000. V Square Quantitative Management LLC purchased a new position in The Hanover Insurance Group in the 3rd quarter worth approximately $26,000. Riverview Trust Co bought a new position in The Hanover Insurance Group in the 1st quarter worth approximately $31,000. 1620 Investment Advisors Inc. bought a new position in The Hanover Insurance Group in the 2nd quarter worth approximately $42,000. Finally, GHP Investment Advisors Inc. grew its holdings in The Hanover Insurance Group by 64.9% during the 2nd quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock valued at $54,000 after buying an additional 168 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

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.