The Hanover Insurance Group, Inc. (NYSE:THG) Receives Average Rating of “Hold” from Brokerages

The Hanover Insurance Group, Inc. (NYSE:THG) has earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $179.50.

A number of brokerages recently weighed in on THG. Keefe, Bruyette & Woods increased their price target on The Hanover Insurance Group from $171.00 to $173.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. JMP Securities increased their price target on The Hanover Insurance Group from $175.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, May 1st. Morgan Stanley increased their price target on The Hanover Insurance Group from $163.00 to $170.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Wall Street Zen upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th. Finally, Piper Sandler increased their price target on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st.

Insider Buying and Selling

In related news, EVP Bryan J. Salvatore sold 10,526 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total transaction of $1,753,631.60. Following the sale, the executive vice president now directly owns 25,864 shares of the company’s stock, valued at $4,308,942.40. This trade represents a 28.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John C. Roche sold 301 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $175.00, for a total value of $52,675.00. Following the sale, the chief executive officer now directly owns 124,414 shares in the company, valued at approximately $21,772,450. This trade represents a 0.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Institutional Trading of The Hanover Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Clearstead Trust LLC acquired a new stake in The Hanover Insurance Group in the first quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its holdings in The Hanover Insurance Group by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 102 shares during the period. True Wealth Design LLC grew its holdings in The Hanover Insurance Group by 81.7% in the fourth quarter. True Wealth Design LLC now owns 307 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 138 shares during the period. Versant Capital Management Inc grew its holdings in The Hanover Insurance Group by 331.4% in the first quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 232 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in The Hanover Insurance Group in the first quarter valued at approximately $53,000. 86.61% of the stock is owned by institutional investors and hedge funds.

The Hanover Insurance Group Price Performance

THG opened at $169.02 on Friday. The Hanover Insurance Group has a 12-month low of $121.52 and a 12-month high of $178.68. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $168.32 and its 200-day simple moving average is $162.96. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 14.07 and a beta of 0.45.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.29. The Hanover Insurance Group had a return on equity of 18.23% and a net margin of 6.98%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the company earned $3.08 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that The Hanover Insurance Group will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, June 13th. The Hanover Insurance Group’s payout ratio is 29.98%.

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.