The Hanover Insurance Group, Inc. (NYSE:THG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of The Hanover Insurance Group, Inc. (NYSE:THG) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $207.00.

Several equities analysts have recently commented on THG shares. Citizens Jmp upped their price objective on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the stock a “market outperform” rating in a report on Thursday, April 30th. Piper Sandler upped their price objective on shares of The Hanover Insurance Group from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a research note on Thursday, April 30th. Finally, Morgan Stanley set a $195.00 target price on shares of The Hanover Insurance Group in a research note on Friday, May 1st.

Insider Activity

In related news, Director Francisco Aristeguieta sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $195.37, for a total transaction of $195,370.00. Following the sale, the director directly owned 4,053 shares of the company’s stock, valued at $791,834.61. This represents a 19.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cynthia Egan sold 3,400 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $188.50, for a total transaction of $640,900.00. Following the sale, the director directly owned 9,359 shares in the company, valued at approximately $1,764,171.50. The trade was a 26.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,508 shares of company stock worth $5,704,651 over the last 90 days. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Several large investors have recently added to or reduced their stakes in THG. Alliancebernstein L.P. grew its holdings in The Hanover Insurance Group by 36.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock worth $217,505,000 after acquiring an additional 339,896 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in The Hanover Insurance Group by 16.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock worth $168,179,000 after acquiring an additional 136,998 shares in the last quarter. AQR Capital Management LLC grew its holdings in The Hanover Insurance Group by 24.9% during the 4th quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider’s stock worth $174,322,000 after acquiring an additional 190,350 shares in the last quarter. First Trust Advisors LP grew its holdings in The Hanover Insurance Group by 3.2% during the 1st quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock worth $143,416,000 after acquiring an additional 25,945 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in The Hanover Insurance Group by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 727,958 shares of the insurance provider’s stock worth $133,073,000 after acquiring an additional 29,870 shares in the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Stock Performance

Shares of THG stock opened at $198.18 on Friday. The firm’s 50 day moving average price is $188.04 and its 200-day moving average price is $180.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37. The Hanover Insurance Group has a one year low of $160.70 and a one year high of $201.45. The firm has a market cap of $6.93 billion, a P/E ratio of 9.97 and a beta of 0.30.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.14 by $1.11. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business posted $3.87 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that The Hanover Insurance Group will post 18.36 EPS for the current year.

The Hanover Insurance Group announced that its Board of Directors has authorized a stock repurchase program on Wednesday, May 13th that allows the company to buyback $700.00 million in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 10.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio is presently 19.12%.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.