The Hanover Insurance Group, Inc. (NYSE:THG) Short Interest Update

The Hanover Insurance Group, Inc. (NYSE:THG) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 248,300 shares, a drop of 22.6% from the October 15th total of 320,700 shares. Based on an average trading volume of 177,600 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.7% of the company’s stock are short sold.

Analyst Ratings Changes

A number of equities analysts recently commented on THG shares. Oppenheimer lifted their price target on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Bank of America raised their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Piper Sandler boosted their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. JMP Securities raised their target price on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $173.40.

Insider Transactions at The Hanover Insurance Group

In related news, EVP Jeffrey M. Farber sold 300 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total value of $45,000.00. Following the completion of the transaction, the executive vice president now directly owns 89,733 shares of the company’s stock, valued at approximately $13,459,950. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathy S. Lane sold 1,884 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total transaction of $252,889.32. The disclosure for this sale can be found here. Insiders sold 41,303 shares of company stock valued at $6,306,926 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Several institutional investors have recently added to or reduced their stakes in THG. Point72 Hong Kong Ltd bought a new stake in shares of The Hanover Insurance Group in the 2nd quarter valued at $25,000. True Wealth Design LLC bought a new position in shares of The Hanover Insurance Group during the 3rd quarter worth about $25,000. V Square Quantitative Management LLC acquired a new stake in The Hanover Insurance Group in the third quarter valued at approximately $26,000. 1620 Investment Advisors Inc. bought a new stake in The Hanover Insurance Group during the 2nd quarter valued at $42,000. Finally, GHP Investment Advisors Inc. raised its holdings in shares of The Hanover Insurance Group by 64.9% in the 2nd quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 168 shares during the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

The Hanover Insurance Group Trading Up 0.9 %

NYSE:THG traded up $1.39 on Friday, reaching $163.48. 163,501 shares of the stock traded hands, compared to its average volume of 187,902. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27. The Hanover Insurance Group has a 1-year low of $116.70 and a 1-year high of $164.67. The company’s 50 day moving average is $150.50 and its 200-day moving average is $138.47. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 16.22 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.40. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the firm earned $0.19 earnings per share. The Hanover Insurance Group’s quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts anticipate that The Hanover Insurance Group will post 11.29 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.85 per share. The ex-dividend date was Friday, September 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.08%. The Hanover Insurance Group’s payout ratio is 33.73%.

The Hanover Insurance Group Company Profile

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.