The Hanover Insurance Group (NYSE:THG) Hits New 52-Week High – What’s Next?

The Hanover Insurance Group, Inc. (NYSE:THG) shares hit a new 52-week high on Tuesday . The company traded as high as $236.07 and last traded at $232.1830, with a volume of 264525 shares trading hands. The stock had previously closed at $232.63.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a report on Friday, July 10th. BMO Capital Markets cut The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and increased their target price for the company from $194.00 to $203.00 in a report on Tuesday, May 19th. Oppenheimer boosted their price objective on The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Weiss Ratings raised The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday. Finally, Citizens Jmp lifted their target price on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $223.29.

The Hanover Insurance Group Stock Performance

The stock has a market capitalization of $8.08 billion, a PE ratio of 11.08 and a beta of 0.28. The company’s 50-day moving average price is $207.60 and its 200 day moving average price is $188.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, topping the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business posted $4.35 earnings per share. The Hanover Insurance Group’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts expect that The Hanover Insurance Group, Inc. will post 19.15 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.95 dividend. The ex-dividend date was Friday, June 12th. This represents a $3.80 dividend on an annualized basis and a yield of 1.6%. The Hanover Insurance Group’s dividend payout ratio is 18.14%.

The Hanover Insurance Group declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 13th that permits the company to buyback $700.00 million in shares. This buyback authorization permits the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Dennis Francis Kerrigan sold 6,262 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $192.99, for a total value of $1,208,503.38. Following the sale, the executive vice president directly owned 11,988 shares of the company’s stock, valued at approximately $2,313,564.12. The trade was a 34.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Francisco Aristeguieta sold 1,000 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $195.37, for a total value of $195,370.00. Following the completion of the sale, the director directly owned 4,053 shares in the company, valued at approximately $791,834.61. This represents a 19.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 26,108 shares of company stock worth $5,063,751. Insiders own 2.80% of the company’s stock.

Institutional Trading of The Hanover Insurance Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of The Hanover Insurance Group during the fourth quarter valued at $83,817,000. Alliancebernstein L.P. lifted its stake 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 valued at $217,505,000 after acquiring an additional 339,896 shares during the period. AQR Capital Management LLC boosted its holdings in shares of The Hanover Insurance Group by 37.8% during the 3rd quarter. AQR Capital Management LLC now owns 763,431 shares of the insurance provider’s stock valued at $137,967,000 after acquiring an additional 209,616 shares during the last quarter. Invesco Ltd. grew its stake in shares of The Hanover Insurance Group by 44.1% in the fourth quarter. Invesco Ltd. now owns 646,910 shares of the insurance provider’s stock worth $118,236,000 after acquiring an additional 197,930 shares during the period. Finally, Balyasny Asset Management L.P. raised its holdings in shares of The Hanover Insurance Group by 206.0% during the third quarter. Balyasny Asset Management L.P. now owns 292,121 shares of the insurance provider’s stock valued at $53,058,000 after purchasing an additional 196,655 shares during 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 (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.