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

The Hanover Insurance Group, Inc. (NYSE:THG) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 315,500 shares, an increase of 27.1% from the October 31st total of 248,300 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily volume of 189,700 shares, the days-to-cover ratio is presently 1.7 days.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 1,200 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $150.11, for a total value of $180,132.00. Following the completion of the sale, the executive vice president now directly owns 85,983 shares of the company’s stock, valued at $12,906,908.13. This trade represents a 1.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 30,551 shares of company stock valued at $4,781,935. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Boston Partners increased its position in The Hanover Insurance Group by 111.8% during the first quarter. Boston Partners now owns 12,794 shares of the insurance provider’s stock worth $1,739,000 after buying an additional 6,753 shares during the period. Markel Group Inc. increased its position in The Hanover Insurance Group by 5.8% during the third quarter. Markel Group Inc. now owns 254,000 shares of the insurance provider’s stock worth $37,620,000 after buying an additional 14,000 shares during the period. Tidal Investments LLC acquired a new position in The Hanover Insurance Group during the first quarter worth approximately $867,000. Foundations Investment Advisors LLC acquired a new position in The Hanover Insurance Group during the second quarter worth approximately $681,000. Finally, Intech Investment Management LLC acquired a new position in The Hanover Insurance Group during the second quarter worth approximately $431,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

Wall Street Analysts Forecast Growth

THG has been the subject of a number of recent research reports. JMP Securities raised their target price on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Piper Sandler increased their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Janney Montgomery Scott cut The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target for the company. in a report on Thursday, November 21st. Bank of America raised their target price on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised their target price on The Hanover Insurance Group from $164.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.83.

The Hanover Insurance Group Stock Down 1.6 %

Shares of THG traded down $2.61 during midday trading on Monday, hitting $162.40. The company had a trading volume of 155,622 shares, compared to its average volume of 175,440. The company’s 50-day simple moving average is $154.04 and its 200-day simple moving average is $140.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $5.85 billion, a P/E ratio of 16.11 and a beta of 0.70. The Hanover Insurance Group has a 1 year low of $119.36 and a 1 year high of $166.13.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.40. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. As a group, sell-side analysts expect that The Hanover Insurance Group will post 11.43 EPS for the current year.

The Hanover Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.22%. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The Hanover Insurance Group’s dividend payout ratio (DPR) is 33.73%.

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.