The Hanover Insurance Group (NYSE:THG) Trading 0.8% Higher – Time to Buy?

Shares of The Hanover Insurance Group, Inc. (NYSE:THG) rose 0.8% during mid-day trading on Thursday . The company traded as high as $164.95 and last traded at $164.27. Approximately 140,414 shares traded hands during trading, a decline of 20% from the average daily volume of 175,748 shares. The stock had previously closed at $163.04.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Oppenheimer raised their price objective on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Janney Montgomery Scott downgraded The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective for the company. in a research note on Thursday, November 21st. JMP Securities increased 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 lifted their price target 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.83.

The Hanover Insurance Group Price Performance

The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average price is $153.40 and its 200 day moving average price is $140.27. The stock has a market cap of $5.95 billion, a PE ratio of 16.37 and a beta of 0.70.

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, topping analysts’ consensus estimates of $2.65 by $0.40. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 earnings per share. As a group, equities analysts expect that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.06%. The Hanover Insurance Group’s dividend payout ratio is currently 33.73%.

Insider Buying and Selling

In related news, EVP Jeffrey M. Farber sold 1,200 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $150.11, for a total value of $180,132.00. Following the completion of the transaction, the executive vice president now owns 85,983 shares of the company’s stock, valued at approximately $12,906,908.13. This trade represents a 1.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 30,551 shares of company stock worth $4,781,935. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. bought a new position in shares of The Hanover Insurance Group during the 1st quarter valued at approximately $261,000. Tidal Investments LLC purchased a new stake in shares of The Hanover Insurance Group in the first quarter valued at $867,000. Cetera Advisors LLC purchased a new stake in shares of The Hanover Insurance Group in the first quarter valued at $208,000. Boston Partners lifted its holdings in shares of The Hanover Insurance Group by 111.8% in the 1st quarter. Boston Partners now owns 12,794 shares of the insurance provider’s stock worth $1,739,000 after acquiring an additional 6,753 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of The Hanover Insurance Group by 4.2% during the 2nd quarter. Park Avenue Securities LLC now owns 4,871 shares of the insurance provider’s stock worth $611,000 after purchasing an additional 198 shares during the period. 86.61% of the stock is currently owned by hedge funds and other 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.