Keefe, Bruyette & Woods Reaffirms Hold Rating for The Hanover Insurance Group, Inc. (THG)

Keefe, Bruyette & Woods reissued their hold rating on shares of The Hanover Insurance Group, Inc. (NYSE:THG) in a report released on Thursday. The brokerage currently has a $91.00 price target on the insurance provider’s stock.

THG has been the subject of several other research reports. Zacks Investment Research upgraded The Hanover Insurance Group from a hold rating to a strong-buy rating and set a $113.00 price target for the company in a report on Tuesday, September 5th. BidaskClub upgraded The Hanover Insurance Group from a hold rating to a buy rating in a report on Tuesday, August 8th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $96.75.

Shares of The Hanover Insurance Group (NYSE:THG) opened at 92.26 on Thursday. The stock has a 50 day moving average price of $96.63 and a 200 day moving average price of $89.86. The firm has a market cap of $3.91 billion, a P/E ratio of 19.96 and a beta of 1.14. The Hanover Insurance Group has a 12-month low of $74.06 and a 12-month high of $100.33.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.14. The Hanover Insurance Group had a return on equity of 5.83% and a net margin of 3.95%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the company posted $0.05 earnings per share. The Hanover Insurance Group’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts expect that The Hanover Insurance Group will post $6.16 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.00 annualized dividend and a yield of 2.17%. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 43.29%.

In other The Hanover Insurance Group news, insider John C. Roche sold 17,500 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $96.00, for a total value of $1,680,000.00. Following the completion of the transaction, the insider now owns 42,524 shares in the company, valued at approximately $4,082,304. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine Bilotti-Peterson sold 2,570 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $98.58, for a total value of $253,350.60. Following the completion of the transaction, the insider now owns 1,760 shares of the company’s stock, valued at approximately $173,500.80. The disclosure for this sale can be found here. Insiders have sold 50,630 shares of company stock valued at $4,913,611 in the last quarter. 1.08% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in THG. BlackRock Inc. grew its stake in The Hanover Insurance Group by 8,831.8% in the 1st quarter. BlackRock Inc. now owns 3,500,184 shares of the insurance provider’s stock valued at $315,226,000 after purchasing an additional 3,460,996 shares during the period. Janus Henderson Group PLC bought a new position in The Hanover Insurance Group in the 2nd quarter valued at $62,938,000. Citadel Advisors LLC grew its stake in The Hanover Insurance Group by 2,022.2% in the 1st quarter. Citadel Advisors LLC now owns 534,945 shares of the insurance provider’s stock valued at $48,177,000 after purchasing an additional 509,738 shares during the period. Macquarie Group Ltd. grew its stake in The Hanover Insurance Group by 97.6% in the 2nd quarter. Macquarie Group Ltd. now owns 729,942 shares of the insurance provider’s stock valued at $64,695,000 after purchasing an additional 360,623 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in The Hanover Insurance Group by 2,199.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 375,034 shares of the insurance provider’s stock valued at $33,239,000 after purchasing an additional 358,725 shares during the period. Hedge funds and other institutional investors own 84.44% of the company’s stock.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc is a holding company. The Company is engaged in providing property and casualty insurance products and services. The Company has four segments: Commercial Lines, Personal Lines, Chaucer and Other. It markets its domestic products and services through independent agents and brokers in the United States, and conducts business internationally through a subsidiary, Chaucer Holdings Limited, which operates through the Society and Corporation of Lloyd’s (Lloyd’s).

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