The Hanover Insurance Group (NYSE:THG) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of The Hanover Insurance Group (NYSE:THG) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

THG has been the subject of a number of other research reports. Barclays upgraded shares of The Hanover Insurance Group to a “hold” rating in a research report on Friday, January 24th. Morgan Stanley upped their target price on The Hanover Insurance Group from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Piper Sandler raised their price target on The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods reduced their price objective on The Hanover Insurance Group from $179.00 to $171.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, The Hanover Insurance Group currently has an average rating of “Hold” and an average price target of $178.00.

The Hanover Insurance Group Price Performance

Shares of NYSE:THG opened at $163.72 on Tuesday. The Hanover Insurance Group has a 12 month low of $119.66 and a 12 month high of $176.16. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 14.01 and a beta of 0.47. The business’s 50 day simple moving average is $164.72 and its 200-day simple moving average is $159.04. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.40 and a quick ratio of 0.40.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities analysts forecast that The Hanover Insurance Group will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Friday, March 14th. The Hanover Insurance Group’s dividend payout ratio is currently 30.80%.

Insider Buying and Selling

In related news, CEO John C. Roche sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $175.01, for a total transaction of $35,002.00. Following the completion of the transaction, the chief executive officer now owns 124,278 shares of the company’s stock, valued at approximately $21,749,892.78. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Hanover Insurance Group

Several institutional investors have recently bought and sold shares of THG. Barclays PLC raised its stake in shares of The Hanover Insurance Group by 61.5% during the third quarter. Barclays PLC now owns 27,155 shares of the insurance provider’s stock valued at $4,022,000 after purchasing an additional 10,341 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in The Hanover Insurance Group during the 4th quarter valued at $201,000. Congress Asset Management Co. increased its stake in The Hanover Insurance Group by 42.5% during the 4th quarter. Congress Asset Management Co. now owns 46,091 shares of the insurance provider’s stock worth $7,128,000 after buying an additional 13,750 shares during the period. Oak Thistle LLC acquired a new position in The Hanover Insurance Group in the 4th quarter worth $1,046,000. Finally, Hodges Capital Management Inc. lifted its holdings in The Hanover Insurance Group by 48.8% in the 4th quarter. Hodges Capital Management Inc. now owns 76,503 shares of the insurance provider’s stock worth $11,832,000 after buying an additional 25,089 shares in the last quarter. 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.