The Hanover Insurance Group (NYSE:THG) Hits New 1-Year High Following Analyst Upgrade

The Hanover Insurance Group, Inc. (NYSE:THG)’s share price reached a new 52-week high during trading on Tuesday after Piper Sandler raised their price target on the stock from $190.00 to $205.00. Piper Sandler currently has an overweight rating on the stock. The Hanover Insurance Group traded as high as $176.16 and last traded at $175.74, with a volume of 44109 shares traded. The stock had previously closed at $173.95.

A number of other equities research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of The Hanover Insurance Group from $176.00 to $179.00 and gave the company a “market perform” rating in a research note on Monday, February 10th. Morgan Stanley raised their target price on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Barclays upgraded shares of The Hanover Insurance Group to a “hold” rating in a report on Friday, January 24th. Finally, BMO Capital Markets raised their price objective on The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $179.00.

Insiders Place Their Bets

In related news, CEO John C. Roche sold 301 shares of The Hanover Insurance Group stock in a transaction on Monday, March 31st. The shares were sold at an average price of $175.00, for a total transaction of $52,675.00. Following the completion of the transaction, the chief executive officer now owns 124,414 shares of the company’s stock, valued at $21,772,450. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of The Hanover Insurance Group during the 4th quarter worth approximately $67,928,000. Franklin Resources Inc. lifted its stake in The Hanover Insurance Group by 28.6% during the 4th quarter. Franklin Resources Inc. now owns 1,217,919 shares of the insurance provider’s stock valued at $188,363,000 after acquiring an additional 270,491 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in The Hanover Insurance Group during the 4th quarter worth $21,797,000. American Century Companies Inc. grew its stake in shares of The Hanover Insurance Group by 15.7% in the 4th quarter. American Century Companies Inc. now owns 958,858 shares of the insurance provider’s stock worth $148,297,000 after acquiring an additional 130,054 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of The Hanover Insurance Group by 75.7% in the fourth quarter. AQR Capital Management LLC now owns 287,356 shares of the insurance provider’s stock valued at $44,443,000 after purchasing an additional 123,793 shares during the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

The Hanover Insurance Group Price Performance

The business’s 50-day moving average is $164.56 and its two-hundred day moving average is $157.78. The company has a market capitalization of $6.30 billion, a P/E ratio of 14.99 and a beta of 0.65. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.25.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share for the quarter, topping the consensus estimate of $3.45 by $1.87. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. As a group, analysts predict that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.05%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 30.80%.

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.